US energy stocks rise on higher crude prices

S&P 500 Energy index .SPNY rises 1.9%, tracking an increase in oil prices O/R

Brent crude futures LCOc1 up 0.8% at $71.14/barrel and U.S. West Texas Intermediate crude futures CLc1 up 0.7% at $67.66/barrel

Prices gained after the U.S. vowed to keep attacking Yemen's Houthis until the Iran-aligned group ends its assaults on shipping

U.S. President Donald Trump launched military strikes against the Houthis on Saturday over the group's attacks against Red Sea shipping

Chinese economic data also boosted oil prices, fueling hopes for higher demand

Shares of oil and gas majors Exxon Mobil XOM.N up 2.2% to highest since early December 2024, while Chevron CVX.N rises 1.5%

Producers Diamondback Energy FANG.O, Coterra Energy CTRA.K and Devon Energy DVN.N up around 2% each

Oilfield service companies such as Baker Hughes BKR.O and SLB SLB.N up 2.6% and 1.3%, respectively

Refiners PBF Energy PBF.N up 5.8% and Marathon Petroleum gains MPC.N 3.5%

Midstream companies Targa Resources TRGP.N, Kinder Morgan KMI.N and Energy Transfer ET.N up between 1.3% and 3.6%