Oil companies rise as crude soars on Middle East turmoil

Callon Petroleum Co

09/10/2023 11:17

** Shares of oil and gas companies climb premarket, tracking
a 3% jump in crude oil prices following military clashes between
Israel and the Palestinian Islamist group Hamas 
    ** Brent crude  LCOc1  gains 2.9% at $87.00/bbl while U.S.
West Texas Intermediate crude  CLc1  jumps 3.2% to $85.42/bbl
 O/R 
    ** Oil majors Exxon Mobil  XOM.N  and Chevron  CVX.N  climb
2.1% and 2.3%, respectively
    ** Oil and gas producers Pioneer Natural Resources  PXD.N , 
Coterra Energy  CTRA.N , Murphy Oil  MUR.N , ConocoPhillips
 COP.N , APA  APA.O , Marathon Oil  MRO.N , Occidental Petroleum
 OXY.N  and Callon Petroleum  CPE.N  climb up 1.3% and 4%
     ** Top oilfield services companies Baker Hughes  BKR.O ,
SLB  SLB.N  and Halliburton  HAL.N  rise 1.4%-2.5%
    ** Surge in oil prices reversed last week's downtrend - the
largest weekly decline since March - in which Brent fell about
11% and WTI retreated more than 8% as a darkening macroeconomic
outlook intensified concerns about global demand
    

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
 ;))