Energy Stocks Rise Premarket as Crude Prices Extend Gains
MT Newswires Live
Mar 06
Oil and gas stocks advanced in premarket activity Friday as crude prices extended gains amid the continued fighting in the Middle East.
Brent crude futures climbed above $88 a barrel, marking a gain of more than 21% over the past week.
The US Treasury on Thursday issued a waiver allowing India to purchase Russian oil that had been stranded at sea and allowed transactions with the German branch of Russia's state-owned Rosneft, multiple media outlets reported.
Shares of Exxon Mobil (XOM), BP (BP) and Chevron (CVX) rose more than 1% in premarket activity, while ConocoPhillips (COP) gained more than 2%. Shell (SHEL), Eni (E) and TotalEnergies (TTE) were each up less than 1%.
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