US energy stocks gain as oil rallies on Middle East supply concerns, hurricane risks
BUZZ-US energy stocks gain as oil rallies on Middle East supply concerns, hurricane risks ** Shares of US energy companies rise premarket, tracking rising oil prices O/R
** Brent crude futures LCOc1 up 4.2% at $104.4 a barrel and US West Texas Intermediate crude CLc1 rise 4% to $91.8 a barrel
** Oil prices rise on concerns about Middle East supply due to increased attacks on shipping in the Gulf and the Strait of Hormuz, while US output fell as a hurricane threatened offshore production
** Top oil and gas majors ExxonMobil XOM.N and Chevron CVX.N rise 1.6% and 1.3%, respectively
** Occidental Petroleum OXY.N and ConocoPhillips COP.N up 1.6% and 1.7%, respectively
** Oilfield services providers Halliburton HAL.N and Baker Hughes BKR.O rise 1.2% and ~1%, respectively
** Refiners Marathon Petroleum MPC.N and Phillips 66 PSX.N rise 1.5% and 1.2%, respectively
(Reporting by Tyakshi Singh in Bengaluru)
Recent news on Baker Hughes
See all newsVenture Global gains as Wells Fargo turns bullish on AI data center strategy
US energy stocks climb as oil rallies on Gulf tensions
Halliburton expects years-long oilfield demand from Gulf energy infrastructure rebuild (updated)
Halliburton tops third-quarter profit estimates on international oilfield demand
Corrected: Venezuela oilfield hiring picks up as first wave of investment builds