Energy companies rise on renewed US-Iran hostilities, threat of Red Sea closure
BUZZ-Energy companies rise on renewed US-Iran hostilities, threat of Red Sea closure ** U.S.-listed shares of energy companies rise premarket, tracking incline in oil prices O/R
** Brent crude futures LCOc1 gains 2.1% to $86/barrel; U.S. West Texas Intermediate futures CLc1 up 2.4% at $80.86/barrel
** Prices rise after the U.S. and Iran stepped up attacks across the Gulf, with shipping threatened by a potential Red Sea closure on top of the restricted traffic through the Strait of Hormuz
** Oil majors Exxon Mobil XOM.N and Chevron CVX.N up 2% and 1.4%, respectively
** Oil and gas producers: Occidental Petroleum OXY.N up 1.5% and ConocoPhillips COP.N gains 2%
** Oilfield services firms: SLB SLB.N and Halliburton HAL.N both inch up marginally and Baker Hughes BKR.O advances ~1%
** Refiners: Phillips 66 PSX.N up ~2% and Marathon Petroleum MPC.N up 1.6%
(Reporting by Dharna Bafna in Bengaluru)
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