BUZZ-Oil firms rise after Trump cancels Chevron's Venezuela license

S&P 500 energy index .SPNY up 1.1%, as oil prices rise more than 1.5% O/R

Brent crude futures LCOc1 up 2% at $74.02/barrel and U.S. West Texas Intermediate crude CLc1 up 2.2% at $70.13/barrel

The contracts had settled in the previous session at their lowest since December 10

Oil prices rise as supply concerns resurfaced after U.S. President Donald Trump revoked a license granted to Chevron CVX.N to operate in Venezuela

Chevron will no longer be able to export Venezuelan crude; if Venezuelan state oil company PDVSA exports oil previously exported by Chevron, U.S. refineries will be unable to buy it because of U.S. sanctions

Oil majors Chevron CVX.N and Exxon Mobil XOM.N up 1.5% and 1.4%, respectively

Texas Pacific Land Corp TPL.N, Baker Hughes BKR.O, Devon Energy DVN.N and ConocoPhillips COP.N up between 2% and 2.5%; among top percentage gainers on the energy index

Oilfield services (OFS) companies SLB SLB.N up 1.8% and Halliburton HAL.N up 1.3%

Refiners Delek US Holdings DK.N up 1.8% and Phillips 66 PSX.N up 1.6%