US energy stocks gain as expanding conflict heightens supply risks

Coterra Energy

03/03/2026 11:13

** Shares of U.S. energy companies rise premarket, tracking higher crude prices as the widening U.S.-Israeli conflict with Iran disrupts fuel shipments and heightens fears of further Middle East supply disruptions O/R

** Brent crude futures LCOc1 hit their highest since July 2024 at $82.80/barrel, before retreating to $82.68; U.S. West Texas Intermediate crude CLc1 reached its peak since June, last up 7.6% at $76.96/barrel

** Energy majors Exxon Mobil XOM.N and Chevron CVX.N gain 1.8% each

** Oil and gas producers: Occidental Petroleum OXY.N, APA Corp APA.O, Devon Energy DVN.N and Coterra Energy CTRA.N rise between 2.4% and 4%

** Refiners: Phillips 66 PSX.N up 1.8%, Marathon Petroleum MPC.N rises 1.7% and Valero Energy VLO.N gain 1.9%

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))