S&P 500 energy index .SPNY gains 2.6%, tracking rising oil prices O/R.
Brent crude futures LCOc1 up 3.1% at $78.40/barrel and U.S. West Texas Intermediate crude futures CLc1 rise 3% to $73.56/barrel. Both contracts climbed more than 4% earlier in the session.
Oil prices surge after renewed military strikes between the U.S. and Iran reignited concerns over energy shipments.
Hormuz closure concerns and company moves
Tehran targeted U.S. facilities across the Gulf on Sunday and said it had again closed the Strait of Hormuz; Iran's Revolutionary Guards said on Monday they had attacked U.S. military bases in Kuwait and Bahrain.
U.S. energy majors Chevron CVX.N adds 1.9% and Exxon Mobil XOM.N jumps 2.5%.
Valero Energy VLO.N, Phillips 66 PSX.N, Texas Pacific Land Corp TPL.N and Marathon Petroleum MPC.N rise between 3.6% and 4.2%; among top percentage gainers on energy index.
Oilfield services companies Baker Hughes BKR.O up ~1% and Halliburton HAL.N rises 2.5%.
Refiners HF Sinclair DINO.N adds 2.2% and PBF Energy PBF.N gains 5.5%.
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