US energy companies gain as crude rises on Hormuz uncertainty
XLE•Energy stocks rise with crude prices
The S&P 500 energy index .SPNY rose 3.1%, tracking higher oil prices.
Brent crude futures LCOc1 climbed 3% to $86.05 a barrel while U.S. West Texas Intermediate crude CLc1 advanced 3.1% to $80.62 a barrel.
Prices jumped more than 2% after Iran insisted that the United States must satisfy several demands before the Strait of Hormuz can reopen.
Big oil and refiners among the gainers
Energy giants Exxon Mobil XOM.N and Chevron CVX.N were up 3.1% and 3%, respectively.
Occidental Petroleum OXY.N, APA Corp APA.O, Valero Energy VLO.N and Marathon Petroleum MPC.N rose between 4.3% and 5.3%, among the top percentage gainers on the energy index.
Oilfield services company SLB SLB.N was up 2.3% and Baker Hughes BKR.O rose 2.1%.
Refiner Phillips 66 PSX.N gained 3.1%.
