USO•Oil prices rose about 3% on Wednesday, with Brent at $94.26 a barrel and U.S. West Texas Intermediate at $88.31. U.S. oil and gas companies, refiners and oilfield services providers also gained.
Oil prices rose about 3% on Wednesday from the previous session’s two-month lows after Iran’s security chief said Tehran would not allow any enriched nuclear material to leave the country. Brent rose $2.77 to $94.26 a barrel, while West Texas Intermediate gained $2.27 to $88.31.
ExxonMobil rose 1.3% and Chevron gained 0.85%. SM Energy and Devon Energy advanced more than 2% each, while PBF Energy rose about 4.7% and Valero Energy gained 2.9%. Baker Hughes, SLB and Halliburton also rose.
