** S&P 500 energy index .SPNY up 1.1%, as oil prices rise more than 1.5% O/R
** Brent crude futures LCOc1 up 2% at $74.02/barrel and U.S. West Texas Intermediate crude CLc1 up 2.2% at $70.13/barrel
** The contracts had settled in the previous session at their lowest since December 10
** Oil prices rise as supply concerns resurfaced after U.S. President Donald Trump revoked a license granted to Chevron CVX.N to operate in Venezuela
** Chevron will no longer be able to export Venezuelan crude; if Venezuelan state oil company PDVSA exports oil previously exported by Chevron, U.S. refineries will be unable to buy it because of U.S. sanctions
** Oil majors Chevron CVX.N and Exxon Mobil XOM.N up 1.5% and 1.4%, respectively
** Texas Pacific Land Corp TPL.N, Baker Hughes BKR.O, Devon Energy DVN.N and ConocoPhillips COP.N up between 2% and 2.5%; among top percentage gainers on the energy index
** Oilfield services $(OFS)$ companies SLB SLB.N up 1.8% and Halliburton HAL.N up 1.3%
** Refiners Delek US Holdings DK.N up 1.8% and Phillips 66 PSX.N up 1.6%
(Reporting by Katha Kalia in Bengaluru)
((Katha.Kalia@thomsonreuters.com;))
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