Oil companies up as fading hopes of quick end to Iran war reignite supply worries

Marathon Petroleum

12/05/2026 09:59

** Shares of U.S. energy companies rise premarket, tracking a rise in crude prices O/R

** Brent crude futures LCOc1 up 1.9% at $106.21/barrel,  while U.S. West Texas Intermediate CLc1 rise 2.4% to $100.38/barrel

** Oil prices rise as hopes for a deal to end the U.S.-Israeli war on Iran fade, with stark differences between Tehran and Washington on a peace proposal bringing supply concerns again to the fore

** Energy majors Chevron CVX.N rise ~1% and Exxon Mobil XOM.N climbs 1.1%

** Oil and gas producers Diamondback Energy FANG.O, APA Corp APA.O, Occidental Petroleum OXY.N and Devon Energy DVN.N 1.3% and 2.4% each

** Oilfield services companies Baker Hughes BKR.O and SLB SLB.N up marginally

** Refiners Phillips 66 PSX.N and Marathon Petroleum MPC.N climbs 1% and 1.2%, respectively

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))