Oil companies rise as crude soars on Middle East turmoil

Callon Petroleum Co

09/10/2023 15:01

(Updates)
    ** S&P 500 Energy Sector  .SPNY  rises 2.4% as crude oil
prices jump 4% following military clashes between Israel and
Palestinian Islamist group Hamas 
    ** Brent crude  LCOc1  gains 3.6% to $87.81/bbl while U.S.
West Texas Intermediate crude  CLc1  advances 4.1% to $86.18/bbl
 O/R 
    ** Oil majors Exxon Mobil  XOM.N  and Chevron  CVX.N  climb
3.3% and 2.4%, respectively
    ** SLB  SLB.N , ConocoPhillips  COP.N , Halliburton  HAL.N ,
APA  APA.O , Marathon Oil  MRO.N  among the top pct. gainers on
the energy index, up between 3.7% and 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
 ;))