SM Energy Company (SM)

[iHub News]

Energy stocks advance as oil prices surge amid Middle East tensions

March 2, 2026 7:49 AM
IH Market News

Shares of U.S. energy companies moved higher in premarket trading on Monday, tracking a sharp rise in crude oil prices following an escalation of conflict in the Middle East.

Brent crude futures jumped as much as 13% to $82.37 per barrel — their highest level since January 2025 — before easing back to $79.39 per barrel by 08:57 GMT. U.S. West Texas Intermediate (WTI) crude reached an intraday peak of $75.33, gaining more than 12% and marking its strongest level since June.

Among major oil producers, Exxon Mobil (NYSE:XOM) climbed 5.9%, while Chevron (NYSE:CVX) rose 4.1%. Oilfield technology company Baker Hughes (NASDAQ:BKR) advanced 5.6%, and ConocoPhillips (NYSE:COP) gained 6.2%.

Independent exploration and production firms also posted solid gains, with SM Energy (NYSE:SM), Occidental Petroleum (NYSE:OXY), Coterra Energy (NYSE:CTRA) and Devon Energy (NYSE:DVN) rising between 6% and 7.5%.

Oilfield services providers Halliburton (NYSE:HAL) and SLB (NYSE:SLB) added 5.7% and 4.3%, respectively, as higher crude prices improved the outlook for energy-sector activity.

ExxonMobil stock price

Chevron stock price

Baker Hughes stock price

ConocoPhillips stock price

SM Energy stock price

Occidental Petroleum stock price

Coterra Energy stock price

Devon Energy stock price

Halliburton stock price

SLB stock price

Original: Energy stocks advance as oil prices surge amid Middle East tensions