US energy firms rise as escalating Middle East tensions spark supply fears
Updates
By Sourasis Bose
Oct 2 (Reuters) -U.S. energy companies' shares gained on Wednesday as crude oil prices climbed 3% on worries over an escalation in tensions in the Middle East after Israel and the U.S. vowed to respond to Iran's missile attack on its arch foe.
Israeli Prime Minister Benjamin Netanyahu promised that Iran would pay for its missile attack on Tuesday, while Teheran said any retaliation would be met with "vast destruction", raising fears of a wider war.
Brent LCOc1 futures climbed $2.26 to $75.82 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 jumped $2.38 by 1320 GMT. O/R
The S&P 500 energy sector .SPNY climbed 1.4% to hit highest in over a month, while the broader indexes slipped.
"We would anticipate increased levels of volatility until a clearer picture of what may (or may not) happen appears. OPEC+ ministers are meeting today to discuss the state of the market, but expectations are that there will be no policy changes, with the cartel unwinding quotas from December," Panmure Gordon analyst Ashley Kelty said.
U.S. energy majors Exxon Mobil XOM.N and Chevron CVX.N rose 1.7% and 1.5%, respectively.
ConocoPhillips COP.N, EOG Resources EOG.N and Devon Energy DVN.N gained between 1.1% and 1.8%, while oilfield services firm SLB SLB.N and Halliburton HAL.N rose about 1.6% and 1.3%, respectively.
Positions in oil can serve as a portfolio hedge against the worsening crisis, while market fundamentals are also positive, UBS analysts wrote in a note.
Still, some analysts expect any impact to be not as severe as following the Ukraine invasion.
"There might not ultimately be any disruption to supply though, so current events do not necessarily change the narrative for the oil market,” said Callum Macpherson, head of commodities at Investec.
Reporting by Sourasis Bose and Mrinalika Roy in Bengaluru; Editing by Leroy Leo and Sriraj Kalluvila
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
