US energy stocks gain as oil rallies on Middle East supply concerns, hurricane risks
XLE•US energy shares rose premarket as Brent gained 4.2% to $104.40 a barrel and US WTI rose 4% to $91.80, amid Middle East supply concerns and hurricane risks to US output.
1. Energy shares rise
ExxonMobil and Chevron gained 1.6% and 1.3%, respectively. Occidental Petroleum and ConocoPhillips rose 1.6% and 1.7%, while Halliburton and Baker Hughes added 1.2% and about 1%. Marathon Petroleum gained 1.5% and Phillips 66 rose 1.2%.
