Oil companies rise as Iran halts US talks
BUZZ-Oil companies rise as Iran halts US talks ** Shares of U.S. oil and gas companies rise after Iran’s Tasnim news agency reported Tehran had halted indirect communications with the U.S. over attacks on Lebanon, raising concerns about potential supply risks
** The agency said Iran and the Resistance Front, which includes its Shiite allies in Yemen, Lebanon and Iraq, have set an agenda to completely block the Strait of Hormuz and activate other fronts, including the Bab El Mandeb Strait, in order to "punish" Israel and its supporters
** Brent crude futures LCOc1 rise 6.1% to $96.66/barrel, while U.S. West Texas Intermediate (WTI) futures CLc1 up 7.07% at $94.54/barrel O/R
** S&P 500 energy index .SNPY climbs 1.6%
** Chevron CVX.N and Exxon Mobil XOM.N up 1.6% and 2.5% respectively
** SM Energy SM.N, Devon Energy DVN.N, Occidental Petroleum OXY.N, Valero Energy VLO.N and Marathon Petroleum MPC.N rise between 2.5% and 5.1%
(Reporting by Varun Sahay in Bengaluru)
Recent news on Murphy Oil
See all newsBrief: Murphy Oil Corporation Announces Appraisal Success, Exploration Discovery And Development Progress
Murphy Oil reports Vietnam discovery, Ivory Coast appraisal success
US Gulf producers shut in more oil and gas as Isaias nears landfall (updated)
Hurricane Isaias strengthens as US Gulf Coast prepares for landfall (updated)
About 63% of US Gulf oil production shut in ahead of Hurricane Isaias (updated)