US energy cos rise as oil surges on Middle East supply fears

Marathon Petroleum

29/04/2026 18:09

Updates

** S&P 500 energy index .SPNY up 2.3%, after crude prices jump more than 7% on concerns around prolonged disruptions to Middle Eastern oil supply. O/R

** Brent crude futures LCOc1 jump 7.3% to $119.43 a barrel, their highest since March 9

** U.S. West Texas Intermediate crude CLc1 up 7.03% at $106.96 a barrel, its highest since April 8

** A White House official said on Wednesday U.S. President Donald Trump had asked U.S. oil companies about ways to mitigate the impact of a potentially months-long U.S. blockade of Iranian ports.

** U.S. government data on Wednesday showed a bigger-than-expected draw in crude inventories last week, which also put upward pressure on U.S. crude.

** U.S. oil majors Chevron CVX.N and Exxon Mobil XOM.N rise 1.7% and 2.3% each.

** Valero Energy VLO.N, Expand Energy EXE.O, APA Corp APA.O, Marathon Petroleum MPC.N and Phillips 66 PSX.N among the top percentage gainers on the energy index, up between 3.8% and 6.3%

** PSX posts a surprise first-quarter adjusted profit on higher refining margins.

** Refiner HF Sinclair DINO.N gains 6%.

(Reporting by Sumit Saha and Arunima Kumar in Bengaluru)

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