Oil Companies Climb on Higher Oil Prices and Broad Market Rally

On April 24, 2025, 3:25 AM

Oil companies are capitalizing on rising oil prices, with Brent crude up 2.6% to $68 and WTI up 2.92% to $64.92, driven by U.S. sanctions on Iran.

A robust equity market rally—Dow Jones up 2.61%, S&P 500 up 2.46%, and NASDAQ up 2.84%—further fuels gains.

Oil companies are thriving:

Marathon Petroleum (MPC): +3.94%
TotalEnergies (TTE): +3.08%
Chevron (CVX): +2.95%
BP: +3.65%
Equinor (EQNR): +2.65%
Enbridge (ENB): +1.62%
Imperial Oil (IMO): +4.67%
Cenovus Energy (CVE): +2.57%

Despite trade tensions, strong market sentiment and tighter supply lift the sector, though volatility looms if U.S.-China disputes intensify.

Story By oilprice.com