Energy companies rise as crude prices gain on Fed rate-cut signals, supply concerns

S&P 500 energy index .SPNY up 0.5% as crude prices edge higher O/R

Brent crude futures LCOc1 up 1% at $63.88/ barrel and U.S. West Texas Intermediate crude CLc1 rises 1% to $60.27/barrel

Oil prices rise on increasing expectations the U.S. Federal Reserve will cut interest rates next week, which could boost economic growth and energy demand, and geopolitical uncertainty that could reduce supplies from Russia and Venezuela

Top oil and gas firm Exxon XOM.N up marginally

Expand Energy EXE.O, EQT Corp EQT.N, Diamondback Energy FANG.O and SLB SLB.N rise between 1.4% and 2.3%, among biggest percent gainers on the index

Oilfield services firm Halliburton HAL.N up 2.5%

Refiners Phillips 66 PSX.N and Valero Energy VLO.N rise 1.1% each