ConocoPhillips (COP) stock is surging 6.21% in pre-market trading on Monday, as the energy sector experiences a broad-based rally. The company's shares are outperforming the already impressive gains seen across the oil and gas industry, with peers like Exxon, Chevron, and Occidental Petroleum also posting significant increases.

The robust performance of energy stocks is largely attributed to rising oil prices, which have been bolstered by positive developments in US-China trade relations. Reports of tariff reductions between the two economic powerhouses have injected optimism into the market, particularly benefiting the energy sector. This improved trade outlook is expected to stimulate global economic activity and, consequently, increase demand for oil and gas products.

While ConocoPhillips leads the pack with its notable pre-market surge, other major players in the industry are also seeing substantial gains. Halliburton is up 7.1%, Schlumberger (SLB) has risen about 5.8%, and Occidental Petroleum has climbed 5.7%. This sector-wide upswing underscores investors' renewed confidence in energy stocks, with ConocoPhillips standing out as a prime beneficiary of the improved market sentiment.