Energy companies ride on oil gains as Iran-Israel conflict escalates

S&P 500 energy index .SPNY up 1.6%, tracking higher crude prices O/R

Brent crude futures LCOc1 rise ~3% to $75.44/barrel; U.S. West Texas Intermediate crude CLc1 up 2.6% at $73.63/barrel

Crude prices gain on rising Iran-Israel conflict, although disruptions have so far spared major oil and gas infrastructure and flows

"There are some signs of disruption to exports through the Strait of Hormuz, with fewer tanker movements (bar Chinese vessels) suggesting that oil supplies may dip in near term and thus see physical markets tighten further," says Ashley Kelty, analyst at Panmure Liberum

Two oil tankers collided and caught fire near the Strait of Hormuz, where electronic interference has surged, highlighting risks to companies moving oil and fuel supplies in the region

U.S. energy majors Chevron CVX.N and Exxon Mobil XOM.N climbed 1.8% and 1.5%, respectively

Diamondback Energy FANG.O, Valero Energy VLO.N , Baker Hughes BKR.O and APA Corp APA.O rise between 2.1% and 2.6%; among the top percentage gainers on the energy index

Oilfield services companies Halliburton HAL.N up ~2%, SLB SLB.N rise 1.5%

Refiners HF Sinclair DINO.N up ~1% and Marathon Petroleum MPC.N up 1.4%