BUZZ-US energy stocks gain as expanding conflict heightens supply risks
Reuters
Mar 03
BUZZ-US energy stocks gain as expanding conflict heightens supply risks
** Shares of U.S. energy companies rise premarket, tracking higher crude prices as the widening U.S.-Israeli conflict with Iran disrupts fuel shipments and heightens fears of further Middle East supply disruptions O/R
** Brent crude futures LCOc1 hit their highest since July 2024 at $82.80/barrel, before retreating to $82.68; U.S. West Texas Intermediate crude CLc1 reached its peak since June, last up 7.6% at $76.96/barrel
** Energy majors Exxon Mobil XOM.N and Chevron CVX.N gain 1.8% each
** Oil and gas producers: Occidental PetroleumOXY.N, APA Corp APA.O, Devon Energy DVN.N and Coterra Energy CTRA.N rise between 2.4% and 4%
** Refiners: Phillips 66PSX.N up 1.8%, Marathon Petroleum MPC.N rises 1.7% and Valero Energy VLO.N gain 1.9%
(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))
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