BUZZ-Oil firms rise on concerns over more sanctions on Russia and Iran

Reuters
01-10
BUZZ-Oil firms rise on concerns over more sanctions on Russia and Iran

** U.S.-listed shares of energy companies jump premarket, tracking rising oil prices O/R

** Brent crude futures LCOc1 up 2.9% at $79.16/barrel, reaching the highest level in three months; U.S. West Texas Intermediate crude futures CLc1 up 3% at $76.10/barrel

** Oil prices surge and are on track for a third straight week of gains as traders focused on potential supply disruptions from more sanctions on Russia and Iran

** Top oil and gas cos Exxon XOM.N and Chevron CVX.N each up 1.1%

** Shares of E&P cos Occidental Petroleum OXY.N up 1.5%, ConocoPhillips COP.N rise 1.2%, Coterra Energy CTRA.N up 1.3% and Devon Energy DVN.N rise 1%

** Shares of oilfield services firms Baker Hughes BKR.O and SLB SLB.N up 1.3% and 1.1% respectively

** Refiners Phillips 66 PSX.N up 0.7% and Valero Energy VLO.N rises 0.6%

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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