Energy stocks rise on Russia sanctions; oversupply worries cap gains

EOG Resources

11/11/2025 16:34

Updates

** S&P 500 energy index .SPNY up 1.8%, tracking a rise in crude prices

** Brent crude futures LCOc1 up 1.5% at $65/barrel; U.S. West Texas Intermediate crude futures CLc1 up 1.4% at $60.99/barrel

** Crude prices rise due to the impact of the latest U.S. sanctions on Russian oil, although oversupply concerns limited gains

** Energy majors Exxon Mobil XOM.N and Chevron CVX.N rise ~2% and 1%, respectively

** Occidental Petroleum OXY.N, ConocoPhillips COP.N, EOG Resources EOG.N and Devon Energy DVN.N gains between 2.9% and 3.6%; among the top percentage gainers on the energy index

** OXY on Monday beat Q3 profit estimates as higher production helped the U.S. shale producer counter weaker oil prices

** Oilfield services companies SLB SLB.N and Halliburton  HAL.N up 2.3% and 2.5%, respectively

** Refiners Phillips 66 PSX.N gains 1.8% and Marathon Petroleum MPC.N up 1.9%

(Reporting by Sumit Saha in Bengaluru)

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