US energy stocks climb as oil rallies on Gulf tensions

By Reuters News

** Shares of US energy companies rise premarket, tracking higher oil prices O/R

** Brent crude futures up 1.5% at $111.24/barrel, after touching its highest since May

** US West Texas Intermediate crude rises 5.2% to $109.08/barrel, having earlier touched its highest level since April

** Prices gain with Brent reaching a five-month high, as traders priced in a geopolitical risk premium from Houthi attacks on Saudi infrastructure and reports of vessel attacks in the Gulf

** Energy majors ExxonMobil XOM.N and Chevron CVX.N gain 1.2% and 1.3%, respectively

** Oil and gas producers ConocoPhillips COP.N, Occidental Petroleum OXY.N, Permian Resources PR.N and SM Energy SM.N gain between 1.3% and 2.1%

** Oilfield services companies Baker Hughes BKR.O up 0.6% and SLB SLB.N gains 0.9%

** Halliburton HAL.N up 4.6% after beating Q3 revenue and profit estimates, helped by higher demand in Latin America

** Refiners Marathon Petroleum MPC.N up 1.6% and Phillips 66 PSX.N gains 1.9%

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.