US energy companies gain as crude rises on Hormuz uncertainty

APA

10/08/2026 15:11

** S&P 500 energy index .SPNY rise 3.1%, tracking higher oil prices O/R
** Brent crude futures LCOc1 climb 3% to $86.05/barrel while U.S. West Texas Intermediate crude CLc1 advance 3.1% to $80.62/barrel
** Prices jumped more than 2% after Iran insisted that the United States must satisfy several demands before the Strait of Hormuz can reopen
** Energy giants Exxon Mobil XOM.N and Chevron CVX.N up 3.1% and 3%, respectively
** Occidental Petroleum OXY.N, APA Corp APA.O, Valero Energy VLO.N and Marathon Petroleum MPC.N rise between 4.3% and 5.3%; among the top percentage gainers on the energy index
** Oilfield services company SLB SLB.N up 2.3% and Baker Hughes BKR.O rises 2.1%
** Refiner Phillips 66 PSX.N gains 3.1%

 (Reporting by Sumit Saha in Bengaluru)
 ((Sumit.Saha@thomsonreuters.com;))