US energy companies gain on rising oil prices as US-Iran hostilities threaten supply routes

Baker Hughes

23/07/2026 10:38

** U.S.-listed shares of energy companies gain premarket, tracking a rise in oil prices O/R
** Brent crude futures LCOc1 up ~5% at $98.69/barrel; U.S. West Texas Intermediate CLc1 rises 4% to $90.3/barrel
** Prices hit their highest in more than a month as escalating hostilities between the U.S. and Iran stoked fears of supply disruptions across oil transit routes
** Energy majors Exxon XOM.N and Chevron CVX.N up 1.3% and 1.2%, respectively
** Oil and gas producers: Occidental Petroleum OXY.N up 1.4%, ConocoPhillips COP.N gains ~1%, APA Corp APA.O rises 1.8%
** Oilfield services companies Baker Hughes BKR.O and SLB SLB.N each up marginally, Halliburton HAL.N rises 1.2% 
** Refiners Marathon Petroleum MPC.N up 1.3% and Phillips 66 PSX.N rises 1.1%

 (Reporting by Pranav Mathur in Bengaluru)
 ((Pranav.Mathur@thomsonreuters.com;))