Shares of U.S. energy companies gain premarket, tracking higher crude prices as conflict in the Middle East kept shipping and energy exports through the vital Strait of Hormuz halted (O/R)
Brent Crude futures (LCOc1) up 4.4% at $89.12 per barrel; while U.S. West Texas Intermediate (CLc1) gains 6.2% to $86.06/barrel
“Volatility remains high and physical markets are getting tighter…We’d anticipate prices to continue to rise with no obvious triggers for an easing of the risks to supply on horizon,” Panmure Liberum analyst Ashley Kelty said
Energy majors Exxon Mobil (XOM.N) gains 1.7% and Chevron (CVX.N) rises 1.6%
Oil and gas producers: Diamondback Energy (FANG.O) , APA Corp (APA.O) , Occidental Petroleum (OXY.N) and Devon Energy (DVN.N) rise between 1.9% and 3.1%
Oilfield services companies SLB (SLB.N) and Halliburton (HAL.N) gain 1.2% each
Refiners: Marathon Petroleum (MPC.N) up 1.7%, Valero Energy (VLO.N) gains 1.4% and Phillips 66 (PSX.N) rises 1.2%

- U.S. energy companies' shares rose in premarket trading, driven by higher crude prices amid ongoing conflict in the Middle East affecting shipping through the Strait of Hormuz.  
- Brent Crude futures increased by 4.4% to $89.12 per barrel, while U.S. West Texas Intermediate rose by 6.2% to $86.06 per barrel.  
- Analysts predict continued price increases due to high volatility and tightening physical markets, with significant gains seen among major energy firms and oilfield services companies.

Reuters

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BUZZ-US energy companies gain as Middle East conflict sends crude prices sharply higher