Oil stocks climb after Trump says US will hit Iran hard again today
BUZZ-Oil stocks climb after Trump says US will hit Iran hard again today Updates
** S&P 500 energy index .SPNY up 2.3%, tracking higher crude prices O/R
** Brent crude futures LCOc1 gains 2.7% to $93.93/barrel, while U.S. West Texas Intermediate crude CLc1 climbs 3.14% to $90.97/bbl
** Prices climb after U.S. President Donald Trump said the country will hit Iran hard again today, and as data shows a larger-than-expected draw in U.S. crude inventories
** Energy majors Chevron CVX.N up 2.5% and Exxon Mobil XOM.N rises 1.8%
** Devon Energy DVN.N up 6.6%, APA Corp APA.O gains 4.7%, ConocoPhillips COP.N rises 3.6% and Marathon Petroleum MPC.N gains 3.5%; among the top percentage gainers on the energy index
** DVN also boosted by its 2026 production forecast released late on Tuesday, after the completion of its merger with Coterra Energy
** Oilfield services company: SLB SLB.N gains ~1%
** Refiners: Phillips 66 PSX.N up 3.1% and Valero Energy VLO.N rises 2.8%
(Reporting by Sumit Saha in Bengaluru)
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