Diamondback Energy Shares Soar 4.9% on $72 Oil Surge After Iran Strikes
Diamondback Energy shares jumped 4.9% in premarket trading as West Texas Intermediate futures surged over 8% to about $72 per barrel following U.S. and Israeli strikes on Iran’s leadership, heightening risks of supply disruptions through the Strait of Hormuz. Geopolitical strategists warn that if disruptions to Gulf exports persist beyond two weeks, roughly 14 million barrels per day of crude could be at risk, potentially sending oil past triple digits and boosting energy equities further.
1. Oil Prices Surge After Iran Strikes
West Texas Intermediate futures climbed more than 8% to around $72 per barrel, marking the largest one-day rally since March 2022. The spike followed coordinated U.S. and Israeli strikes on Iran’s leadership, intensifying concerns about broader conflict and immediate supply shocks.
2. Impact on Diamondback Energy Shares
Energy investors rotated into producers, sending Diamondback Energy shares up 4.9% in premarket trading. Other major U.S. oil names also rallied between 5% and 8.5%, reflecting heightened exposure to rising crude prices.
3. Supply Disruption Risks
Approximately 20 million barrels per day transit the Strait of Hormuz, accounting for one-fifth of global oil consumption. Strategists caution that if Gulf exports remain impaired beyond two weeks, about 14 million barrels per day could be at risk, potentially pushing crude into triple-digit territory.