Energy companies gain as crude rises over 5% on fresh US sanctions against Russia

Texas Pacific Land (Dover)

23/10/2025 15:05

Updates

** S&P 500 energy index .SPNY up 1.7% as crude rises ~5% O/R

** Brent crude futures LCOc1 up 4.8% at $65.58/barrel; U.S. West Texas Intermediate crude futures CLc1 up 5% at $61.43/barrel

** Prices up after the U.S. imposed sanctions on major Russian suppliers Rosneft ROSN.MM and Lukoil LKOH.MM over the war in Ukraine

** Energy majors Chevron CVX.N and Exxon Mobil XOM.N up 1.3% and 1.4%, respectively

** Occidental Petroleum OXY.N, Texas Pacific Land Corp TPL.N, Diamondback Energy FANG.O and Valero energy VLO.N rise between 3% and 3.9%, among top gainers on the energy index

** Refiner Valero Energy
beat
 Wall Street expectations for Q3 profit, on the back of a rebound in refining margins and record refinery throughput in the Gulf Coast and North Atlantic regions.

** Oilfield services companies Halliburton HAL.N and Baker Hughes BKR.O advance 2.1% and 2.2%, respectively

** Refiners Phillips 66 PSX.N and Marathon Petroleum MPC.N up 2% and 2.7%, respectively

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))