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Oil firms rise ahead of US-China trade talks

ReutersMay 9, 2025 11:25 AM

U.S.-listed shares of oil firms rise premarket, tracking jump in oil prices O/R

Brent Crude futures LCOc1 up 1.9% at $64.03/barrel; U.S. West Texas Intermediate crude CLc1 rises 2% to $61.12/barrel

Oil prices rise as trade tensions between China and the United States showed signs of easing and Britain announced its own U.S. trade deal

Energy majors Chevron CVX.N rises 1.4%, while Exxon XOM.N up 1.2%

APA Corp APA.O gains 1.4%, EOG Resources EOG.N up 1.3%, Devon Energy DVN.N rises 1.2% and ConocoPhillips COP.N up 1.3%

Oilfield service companies Halliburton HAL.N and SLB SLB.N rise 1.8% and 1.3%, respectively

Refiners PBF Energy PBF.N up 1.2% and Marathon Petroleum MPC.N rises 1.1%

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