Energy stocks rally as crude tops $90 after US strikes in Iran
Energy shares rose after U.S. Central Command said American forces began striking IRGC targets in Iran, lifting West Texas Intermediate crude to $90.46 and Brent to $95.05.
Oil and gas stocks rallied Tuesday after U.S.
Central Command announced that American forces had begun striking Islamic Revolutionary Guard Corps targets in Iran.
The strikes followed overnight attacks on two oil tankers, one Saudi and one South Korean, struck by unknown projectiles in the Strait of Hormuz, according to UK Maritime Trade Operations.
No casualties or environmental damage were reported.
West Texas Intermediate crude — as tracked by the United States Oil Fund (NYSE: USO ) — jumped 4.7% to $90.46 a barrel, while Brent crude rose 4.6% to $95.05.
The Energy Select Sector SPDR Fund (NYSE: XLE ) was among the strongest sector ETFs Tuesday, up 1.1%.
The rest of the market went down.
The S&P 500 fell 0.7%.
Today at 12 p.m.
ET, U.S. forces began striking Islamic Revolutionary Guard Corps (IRGC) targets in Iran.
The strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members deployed to the region. — U.S.
Central Command (@CENTCOM) September 1, 2026 According to Pro, these were the best-performing energy stocks with market capitalizations above $10 billion during Tuesday’s session.
Company Price % Change Petróleo Brasileiro S.A. — Petrobras (NYSE: PBR ) $20.31 +4.96% Ecopetrol S.A. (NYSE: EC ) $17.48 +4.83% Canadian Natural Resources Ltd. (NYSE: CNQ ) $51.93 +3.71% BP PLC (NYSE: BP ) $44.36 +3.46% Antero Resources Corp. (NYSE: AR ) $39.75 +3.30% Venture Global Inc. (NYSE: VG ) $15.11 +3.18% Equinor ASA (NYSE: EQNR ) $44.16 +3.18% Prices at approximately 3:10 p.m.
ET Tuesday.
Stocks tied to production and exploration, as tracked by the SPDR S&P Oil & Gas Exploration & Production ETF (NYSE: XOP ), rose 1.8% to $192.39, a 52-week high.
The VanEck Oil Services ETF (NYSE: OIH ) was flat, weighed down by a 3.7% drop in SLB (NYSE: SLB ), the largest oilfield services company in the world and the one with the deepest presence in the Gulf.
Oil majors Exxon Mobil Corp. (NYSE: XOM ) and Chevron Corp. (NYSE: CVX ) gained 2.3% and 2.1%.
Bond Yields Continue To Surge Higher oil raises expected inflation, which raises the odds that the Federal Reserve holds or lifts rates, which lifts yields.
The 10-year Treasury yield rose to 4.80% on Tuesday, its highest level since January 2025.
The two-year yield, the maturity most sensitive to Fed policy, sat at 4.40%, also back at January 2025 levels.
Crude has now climbed 57% from its Dec.
31 close of $57.42.
Energy is up 44.8% this year against roughly 12% for the S&P 500.
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