US energy stocks rise after new strikes on Saudi Arabia, Strait of Hormuz
XLE•Energy shares rise as oil prices jump
Shares of U.S. energy companies rose premarket as oil prices gained over 3%.
Brent crude futures LCOc1 were up 3.3% at $108.06 a barrel and U.S. West Texas Intermediate crude CLc1 jumped 3.1% to $103.18 a barrel.
Strikes and attacks add to supply concerns
Oil prices rose after new strikes on Saudi Arabian energy and civilian infrastructure and Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline.
Oil producers, service companies and refiners advance
Top oil and gas companies Exxon Mobil XOM.N and Chevron CVX.N rose 1.8% and 1.9% respectively.
Shares of ConocoPhillips COP.N, EOG Resources EOG.N, Diamondback Energy FANG.O and Occidental Petroleum OXY.N gained between 1.6% and 2.9%.
Shares of oilfield service providers Halliburton HAL.N and SLB SLB.N added 1% and 1.7% respectively.
Refiners Marathon Petroleum and Valero Energy were up 2.1% and 1.9% respectively.
