US energy stocks gain as oil rallies on Middle East supply concerns, hurricane risks

SLB

08/10/2026 11:47

** Shares of US energy companies rise premarket, tracking rising oil prices O/R
** Brent crude futures LCOc1 up 4.2% at $104.4 a barrel and US West Texas Intermediate crude CLc1 rise 4% to $91.8 a barrel
** Oil prices rise on concerns about Middle East supply due to increased attacks on shipping in the Gulf and the Strait of Hormuz, while US output fell as a hurricane threatened offshore production
** Top oil and gas majors ExxonMobil XOM.N and Chevron CVX.N rise 1.6% and 1.3%, respectively
** Occidental Petroleum OXY.N and ConocoPhillips COP.N up 1.6% and 1.7%, respectively
** Oilfield services providers Halliburton HAL.N and Baker Hughes BKR.O rise 1.2% and ~1%, respectively
** Refiners Marathon Petroleum MPC.N and Phillips 66 PSX.N rise 1.5% and 1.2%, respectively



 (Reporting by Tyakshi Singh in Bengaluru)
 ((Tyakshi.singh@thomsonreuters.com))