Energy stocks climb as crude prices spike on fears of widening Middle East tensions

Marathon Oil

03/10/2024 16:16

** Shares of oil and gas companies climb, tracking higher
crude prices; S&P 500 Energy sector  .SPNY  rises 0.8%
    ** Brent crude  LCoc1  up ~3.5% at $76.46/bbl and U.S. West
Texas Intermediate crude  CLc1  up ~3.6% at $72.21/bbl on
investor concerns that a widening Middle East conflict can
disrupt crude oil flows from the region
    ** Both Brent and WTI up more than 6% each so far this week
    ** Industry giant Exxon Mobil  XOM.N  gains 0.5%
    ** Overall, energy companies gain between 1% and 3.5%
    ** Top gainers include Strathcona  SCR.TO  up 3.5%, Valero
 VLO.N  up 3.2%, SM Energy  SM.N  up 2.5%, Patterson-UTI
 PTEN.N  up 1.3% and Halliburton  HAL.N  up 1.5%

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))