US energy stocks rise as crude prices jump over 7%

Coterra Energy

02/04/2026 10:46

** Shares of energy firms rise premarket after crude prices jumped more than 7%

** U.S. President Donald Trump said on Wednesday the U.S. would keep up attacks on Iran without committing to a specific timeline to end the war

** Brent crude futures LCOc1 rose 7.6% at $108.89/barrel; U.S. West Texas Intermediate crude CLc1 climbs 7.7% to $107.78/barrel

** Energy giants Exxon Mobil XOM.N and Chevron CVX.N rise 3.2% and 2.4%, respectively

** Oil and gas producers: Occidental Petroleum OXY.N, Devon Energy DVN.N, Coterra Energy CTRA.N, APA Corp APA.O and EOG Resources EOG.N gain between 2.8% and 4.6%

** Oilfield services companies Baker Hughes BKR.O up 1.9% and SLB SLB.N gains 1.4%

** Refiners: Phillips 66 PSX.N up 2%, Marathon Petroleum MPC.N gains 2.2% and Valero Energy VLO.N rises 2.9%

** As of last close, the S&P 500 energy index .SPNY jumped more than 31% YTD, the best performing among the major S&P sectors

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))