Oil stocks rise as crude gains on Trump rejection of Iran peace deal
XLE•The S&P 500 energy index rose about 1% as crude prices gained about 2% after U.S. President Donald Trump rejected Iran’s peace deal. Brent rose 1.6% to $106 a barrel, while U.S. West Texas Intermediate gained 1.8% to $94.10 a barrel.
1. Energy shares advance
ExxonMobil shares rose 1.5% and Chevron shares gained 1%. Occidental Petroleum, EOG Resources and ConocoPhillips advanced between 0.6% and 1.4%, while Phillips 66 and Valero Energy rose 0.6% and 0.8%, respectively.
