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US energy stocks gain after Trump comments raise doubts over Iran deal

By Reuters News14:07 (UTC), 12 November 2026 Updated

** Shares of US oil and gas companies rise premarket as oil prices climb O/R

** Brent futures up 1.30% at $93.97 a barrel and US West Texas Intermediate crude gains 0.90% to $87.31/barrel

** Oil prices rise after US President Donald Trump said, "We don't need a deal with Iran," adding uncertainty to efforts to end the war

** Oil majors ExxonMobil XOM.N and Chevron CVX.N up 1.3% each

** ConocoPhillips COP.N rises 1.1%, Diamondback Energy FANG.O adds 1.6%, Occidental Petroleum OXY.N jumps 1.5% and APA Corp APA.O up 1.4%

** Refiners PBF Energy PBF.N rises ~1.8% and Phillips 66 PSX.N gains 1.4%

** Oilfield services provider SLB SLB.N rises 1.1%

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