US energy firms rise after Trump announces 90-day pause on tariffs

S&P 500 energy index .SPNY rises 4.4% as oil prices edge higher

Brent crude futures LCOc1 up 0.7% at $63.28 a barrel; U.S. West Texas Intermediate (WTI) crude CLc1 rises 0.5% to $59.86 a barrel

U.S. President Donald Trump said on Wednesday he authorized a 90-day pause as part of his tariff plan but was also raising the tariff rate for China to 125%, effective immediately

Oil majors Chevron CVX.N and Exxon Mobil XOM.N up 4.4% and 3.3%, respectively

Halliburton HAL.N up 5.8%, EOG Resources EOG.N and Devon Energy DVN.N each up 4.7%

Refiners Marathon Petroleum MPC.N and Valero Energy VLO.N up 5.3% and 3.2%, respectively

Oilfield equipment and services operator Baker Hughes BKR.O up 4.1%