US energy stocks rally as oil surges on supply concerns

By Reuters News

** S&P 500 energy index .SPNY up 2.1%, tracking higher crude prices O/R

** Brent crude futures up 2.4% at $113.44/barrel, on course to finish over 13% higher for the month

** US West Texas Intermediate (WTI) crude futures climbed 2.1% to $104.18/barrel, heading for a monthly jump of about 15%

** Prices rise as fears of an escalation in the US-Iran conflict and a tanker attack in the Strait of Hormuz heighten supply concerns

** Energy major Chevron CVX.N up 1.7%

** Phillips 66 PSX.N rises 3.6% and Valero Energy VLO.N gains 3.4%; Marathon Petroleum MPC.N and ExxonMobil XOM.N up 2.8% each, among the top percentage gainers on the energy index

** Separately, XOM and CVX beat Q3 profit estimates as surging refining margins boosted earnings from their fuel-making businesses

** Oilfield services companies: Baker Hughes BKR.O up 1.9% and Halliburton HAL.N gains 1.1%

** Oil and gas producers: ConocoPhillips COP.N, Occidental Petroleum OXY.N and Diamondback Energy FANG.O up between 1.3% and 1.9%

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