Oil stocks rise as US jobs data eases demand concerns

Permian Resources

08/08/2024 17:10

** Shares of oil and gas companies rise, tracking a jump in
crude prices  O/R 
    ** Brent crude futures  LCOc1  rose ~0.8% to $78.92/bbl by
11:46 a.m. EDT, while U.S. West Texas Intermediate crude  CLc1 
rose 1.1% to $76.05 as U.S. job data eased demand concerns and
escalating tensions in the Middle East helped prices bounce back
    ** Energy majors Exxon Mobil  XOM.N  and Chevron  CVX.N 
rise 1.4% and 1.1%, respectively
    ** Shares of SM Energy  SM.N  jump 10%, Occidental Petroleum
 OXY.N  rises 4%, Permian Resources  PR.N  gains 3.4% and EQT
 EQT.N , APA Corp  APA.O  and Marathon Oil  MRO.N  rise between
1.5% and 2.5%
    ** Oilfield service firms like SLB  SLB.N  and Baker Hughes
 BKR.O  rise 1.2% and 2.1%, respectively

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