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Oil Stocks Jump as Mideast Conflict Pushes Up Oil Prices

Provided by Dow Jones Mar 2, 2026, 11:51:00 AM

By Nicholas G. Miller

Shares of oil companies jumped Monday in premarket trading as the conflict in the Middle East widened following the U.S. and Israel's strikes on Iran, pushing up oil prices.

ExxonMobil rose 4.2% in premarket trading. Chevron gained 3.8%. ConocoPhillips jumped 5.8%. Occidental Petroleum increased 6.6%. Halliburton gained 4.9%. APA jumped 8.3%.

The war in the Middle East has disrupted oil flows in the region, and an extended conflict could lead to a surge in oil prices, particularly if Iran closes the Strait of Hormuz, a key oil supply chokepoint.

Benchmark U.S. crude futures were recently up 7% at around $72 a barrel, while Brent futures, the global price gauge, jumped 8% to roughly $79.

Write to Nicholas G. Miller at nicholas.miller@wsj.com

(END) Dow Jones Newswires

March 02, 2026 06:51 ET (11:51 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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