US energy stocks climb as oil rallies on Gulf tensions
XLE•US energy shares rose premarket as Brent gained 1.5% to $111.24 a barrel and WTI rose 5.2% to $109.08, with traders pricing in geopolitical risk. Halliburton gained 4.6% after beating third-quarter revenue and profit estimates.
1. Energy shares rise
US energy shares climbed premarket as oil prices rose amid Gulf tensions. Brent crude was up 1.5% at $111.24 a barrel after touching its highest level since May, while US West Texas Intermediate rose 5.2% to $109.08 after reaching its highest since April.
2. Company moves
ExxonMobil and Chevron gained 1.2% and 1.3%, respectively, while oil and gas producers rose between 1.3% and 2.1%. Halliburton climbed 4.6% after beating third-quarter revenue and profit estimates, helped by higher demand in Latin America.
