Oil companies rise as Iran halts US talks

SM Energy

01/06/2026 15:03

** 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)
 ((Varun.sahay@thomsonreuters.com))