By Alex Kozul-Wright
Energy stocks were soaring early Monday amid an oil price surge linked to tit-for-tat attacks between the U.S., Israel and Iran.
Shares in the major oil companies were rallying in premarket trading. Exxon was up 4.6% to $159.49, while Chevron was trading 3.9% higher at $194.05.
Occidental Petroleum also benefited from the surge in crude prices. Its stock rose 6.1%. Elsewhere, oil exploration and production company ConocoPhillips climbed 5.7%.
In the event if Iran formally attempts to close the Strait of Hormuz -- a maritime chokepoint that transports roughly 20% of the world's oil -- that could lead to further crude price gains. Oil-linked stocks would likely benefit too.
Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com
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March 02, 2026 06:08 ET (11:08 GMT)
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