US energy companies rise on fears of US-Iran ceasefire collapse

Marathon Petroleum

20/04/2026 10:45

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

** Brent crude futures LCOc1 up 5.1% at $94.99/barrel; U.S. West Texas Intermediate CLc1 rises 5.9% to $88.80/barrel

** Crude prices rise on fears that ceasefire between U.S. and Iran could collapse, after U.S. seized Iranian cargo ship and traffic through Strait of Hormuz remained largely halted

** "Oil markets are likely to remain highly sensitive to geopolitical developments in the Middle East. Elevated tensions could continue to drive prices higher, while any credible de-escalation or restoration of stable shipping conditions could trigger another sharp sell-off " says Abdelaziz Albogdady, market research and fintech strategy manager at FXEM

** Energy majors Exxon Mobil XOM.N and Chevron CVX.N both up 1.5%

** Oil and gas producers: Occidental Petroleum OXY.N up 2.1%, Devon Energy DVN.N rises ~2%, Diamondback Energy FANG.O and ConocoPhillips COP.N each gain 2.3%

** Oilfield services companies Baker Hughes BKR.O and SLB SLB.N both up ~1%

** Refiners Marathon Petroleum MPC.N and Phillips 66 PSX.N advances 2.8% and 2.2%, respectively

 (Reporting by Dharna Bafna in Bengaluru)

 ((dharna.bafna@thomsonreuters.com))