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Posted March 2, 2026 at 10:00 am
Oil giants and related ETFs rocketed in pre-market action Monday, fueled by Brent crude’s sharp climb on U.S.-Iran hostilities.
The weekend killing of Iran’s Supreme Leader Ayatollah Ali Khamenei in joint U.S.-Israeli strikes sent traders scrambling for energy exposure.
President Donald Trump suggested that the current U.S. and Israel’s military strikes against Iran, also called “Operation Epic Furry,” could persist for “four to five weeks,” if necessary.
Energy Stocks Surge As ‘Operation Epic Fury’ Ignites Middle East Oil Risk Premium
Brent crude surged roughly 8% to about $78.70 a barrel on Monday, climbing sharply after unprecedented strikes intensified concerns over potential supply disruptions across the Middle East.
| Company | Premarket | Premarket % Chg |
|---|---|---|
| Chevron Corp (NYSE:CVX) | $194.10 | +$7.34 (3.93%) |
| Shell PLC (NYSE:SHEL) | $84.44 | +$0.93 (1.11%) |
| TotalEnergies SE (NYSE:TTE) | $81.43 | +$1.09 (1.36%) |
| Petroleo Brasileiro (NYSE:PBR) | $17.28 | +$0.65 (3.91%) |
| Exxon Mobil Corp (NYSE:XOM) | $158.77 | +$6.27 (4.11%) |
| Company | Premarket | Premarket % Chg |
|---|---|---|
| SM Energy Co (NYSE:SM) | $25.27 | +$2.14 (9.25%) |
| APA Corp (US) (NASDAQ:APA) | $32.68 | +$2.31 (7.61%) |
| Murphy Oil Corp (NYSE:MUR) | $35.75 | +$2.60 (7.84%) |
| Northern Oil and Gas Inc (NYSE:NOG) | $29.50 | +$1.91 (6.92%) |
| Talos Energy Inc (NYSE:TALO) | $13.10 | +$0.85 (6.94%) |
| Diamondback Energy Inc (NASDAQ:FANG) | $185.55 | +$11.47 (6.59%) |
| Okeanis Eco Tankers Corp (NYSE:ECO) | $57.41 | +$3.36 (6.22%) |
| Occidental Petroleum Corp (NYSE:OXY) | $56.31 | +$3.23 (6.09%) |
| ConocoPhillips (NYSE:COP) | $119.40 | +$5.94 (5.24%) |
| Devon Energy Corp (NYSE:DVN) | $46.00 | +$2.47 (5.67%) |
| EOG Resources Inc (NYSE:EOG) | $130.85 | +$6.77 (5.46%) |
| Imperial Oil Limited Common Stock (AMEX:IMO) | $123.30 | +$6 (5.12%) |
The primary concern for retail traders remains the potential closure of the Strait of Hormuz. The waterway is a vital chokepoint responsible for over 27% of global crude oil shipments.
The instability has been exacerbated by Iran’s retaliatory missile strikes against U.S. bases in the UAE, Bahrain, Kuwait, Qatar and other countries.
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Originally Posted March 2, 2026 – Energy Stocks Surge As ‘Operation Epic Fury’ Ignites Middle East Oil Risk Premium – Chevron (NYSE:CVX) – Benzinga
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