US energy stocks rise as oil jumps on Saudi attack fears

SM Energy

Today 11:31

** Shares of US energy companies rise premarket, tracking higher crude prices O/R
** Brent crude futures LCOc1 up 2.8% at $111.88/barrel, after touching their highest since May, while US West Texas Intermediate crude CLc1 rises 2.4% to $99.48/barrel
** Prices rise after more Houthi attacks in Saudi Arabia stoked concerns over a broader escalation of conflict and further disruptions to crude oil supplies from the world's key exporting region
** "Markets remain very volatile and sensitive to geopolitical developments, and we see no near-term triggers for a downward move," Panmure Liberum analyst Ashley Kelty says
** Energy majors: ExxonMobil XOM.N up 1.4% and Chevron CVX.N gains 1.2%
** Oil and gas producers: SM Energy SM.N, EOG Resources EOG.N, ConocoPhillips COP.N and Devon Energy DVN.N gain between 1.3% and 2.5%
** Refiners: Marathon Petroleum MPC.N, Phillips 66 PSX.N and Valero Energy VLO.N up 1.6%, 1.9% and 1.5%, respectively

 (Reporting by Sumit Saha in Bengaluru)
 ((Sumit.Saha@thomsonreuters.com;))