Energy shares gain as crude climbs on escalating Middle East tensions

Baker Hughes

29/07/2026 16:50

Updates
**  S&P 500 energy index .SPNY gains 2.5% as oil prices rise O/R
** Brent crude futures LCOc1 gains 7.4% to $90.32/barrel; U.S. West Texas Intermediate CLc1 up 6.8% at $84.65/barrel
** Oil prices rose as major airstrikes resumed in the Middle East and dashed hopes for an imminent end to the U.S.-Israeli war with Iran, while industry data showed U.S. crude inventories fell
** Diamondback Energy FANG.O , Expand Energy EXE.O , EOG Resources EOG.N and APA Corp APA.O rise between 3.9% and 4.4% among the top percentage gainers on the energy index 
** Energy majors Exxon XOM.N and Chevron CVX.N up 3.1% and 2.6% respectively
** Oilfield Services Halliburton HAL.N rise marginally and Baker Hughes BKR.O up 2.8%
** Refiners Phillips 66 PSX.N and Valero Energy VLO.N up 1.7% each; Marathon Petroleum MPC.N up 1.1%  

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