Energy companies gain amid Middle East tensions; oversupply caps rally

Targa Resources

10/09/2025 15:50

** S&P 500 Energy .SPNY Index climbs 1.3%, tracking higher crude prices O/R

** Crude prices rise after Israel attacked Hamas leadership in Qatar, Poland shot down drones and the U.S. made a push for new sanctions on buyers of Russian oil, but concerns over crude oversupply capped further gains

** Brent crude LCOc1 climbs 0.9% to $67.05/bbl, while U.S. West Texas Intermediate crude CLc1 rises 1.1% to $63.31/bbl

** Oil majors Exxon Mobil XOM.N and Chevron CVX.N both rise 1.4%

** EQT Corp EQT.N, Halliburton HAL.N, Targa Resources TRGP.N and Occidental Petroleum OXY.N up between 1.9% and 3.2%, among the top pct gainers on the energy index

** Oilfield services companies: Baker Hughes BKR.O rise ~1.8% and SLB SLB.N up 1%

** Refiners Marathon Petroleum MPC.N and Phillips 66 PSX.N gain ~1 each

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))