US Stocks Move: Brent Crude Futures Surpass $100, Oil and Gas Stocks Surge Together

格隆汇2026/07/23 14:32

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Glonhui, July 23 — Oil and gas stocks rose collectively, with Apache Corporation up nearly 4%, Murphy Oil up 3.5%, while Devon Energy, ConocoPhillips, Chevron, ExxonMobil, and Occidental Petroleum all gained over 2%. On the news side, ongoing US-Iran tensions have spread, with conflicts extending to the borders of Iraq, Kuwait, and other countries, increasing geopolitical risks. The September Brent crude oil futures contract surged over 6%, breaking above $100 per barrel and reaching a new high since May 22. WTI crude oil futures prices climbed over 5%, breaking above $91 per barrel.

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OPEC's monthly report shows that Saudi Arabia's average daily crude oil production in October rose to 10.56 million barrels, just several hundred thousand barrels lower than the pre-war level in February and slightly above its quoted limit under the OPEC framework. Iraq's daily output in October also reached approximately 4.9 million barrels, a new high since the outbreak of war. Meanwhile, after the UAE exited OPEC and began competing in the market independently, both the UAE and Saudi Arabia recently slashed their official December cargo prices for Asian buyers, intensifying the competitive landscape.

华尔街见闻•2026/11/11 17:31