Oil companies rise as supply fears mount despite record stocks release plan

Coterra Energy

11/03/2026 17:00

** S&P 500 energy index .SPNY up 1.95%, tracking rise in crude prices O/R

** Brent crude futures lcoC1 up 3.9% at $91.2/barrel, U.S. West Texas Intermediate crude futures CLc1 up 3.9% at $86.70/barrel

** Oil prices rise as fresh attacks on ships in the Strait of Hormuz worsened supply disruption fears, and analysts said the International Energy Agency's proposal for a record release of oil reserves is inadequate to ease those fears

** The IEA recommended the release of 400 million barrels of oil, the largest such move in the agency's history, to try to rein in energy prices, which have shot up 25% since the U.S.-Israeli war with Iran began. The time frame for the release will be decided in due course, the IEA said

** Valero Energy VLO.N, Expand Energy EXE.O, Occidental Petroleum OXY.N, EOG Resources EOG.N and Coterra Energy CTRA.N rise between 2.9% and 5%, among top percentage winners on energy index

** Oilfield services company Halliburton HAL.N up marginally

** Refiner Marathon Petroleum MPC.N climbs 4.8%

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))