Energy shares gain as crude climbs on escalating Mideast tensions
XLE•Energy shares rise as oil prices climb
Shares of U.S. energy companies gained premarket, tracking higher crude prices.
Brent crude futures rose 3.3% to $86.86 a barrel, while U.S. West Texas Intermediate was also up 3.3% at $81.85 a barrel.
Prices rose after U.S. and Saudi strikes in Iraq, Iran missile interceptions, and a drop in U.S. crude inventories.
Energy majors Exxon Mobil and Chevron were up 1.5% and 1.1%, respectively.
Oil producers Occidental Petroleum, Devon Energy, APA Corp and Diamondback Energy gained between 1.4% and 1.9%.
Refiners Marathon Petroleum and Valero Energy rose 1.8% and 1.6%, respectively.
