Oil companies rise as US-Iran talks extended
Shares of U.S. energy companies up premarket, tracking crude prices O/R
Brent crude futures LCOc1 up 3% at $72.88 a barrel while U.S. West Texas Intermediate crude futures CLc1 rise 3.5% to $67.52
Crude prices rose as traders remained on alert for potential supply disruptions after the United States and Iran extended nuclear talks
"Uncertainty prevails, fear is pushing prices higher today," said Tamas Varga, an oil analyst at brokerage PVM, adding that prices were completely driven by the outcome of the Iranian nuclear talks and possible military action the U.S. might take against Iran
Top oil and gas companies Exxon Mobil XOM.N and Chevron CVX.N up 1.6% and 1.4%, respectively
Shares of SM Energy SM.N, Occidental Petroleum OXY.N, Coterra Energy CTRA.N and Devon Energy DVN.N rise between 1% and 2.8%
Oilfield service providers Halliburton HAL.N and SLB SLB.N gain 1.4% and 1.2%, respectively
Refiners Marathon Petroleum MPC.N and Valero Energy VLO.N up marginally
