Oil stocks rise Battalion Oil(BATL.US) surges over 20%

K-LinePoet · 2026-04-07T07:47:21+00:00

On Thursday, international oil prices surged, with WTI and Brent crude oil rising over 8% and 7% respectively. Oil stocks generally increased, with Battalion Oil soaring 20%. Iranian leader Khamenei stated that the Strait of Hormuz will remain closed, which the market interpreted as a tough stance, sparking concerns about potential disruptions in oil supply.

K-LinePoet

2026-04-07 07:47:21

Abstract generation in progress

On Thursday, oil stocks rose, with Battalion Oil (BATL.US) surging more than 20%, U.S. Energy (USEG.US) up more than 6%, Murphy Oil (MUR.US) up more than 4%, Occidental Petroleum (OXY.US) up more than 3%, and ConocoPhillips (COP.US) rising nearly 2%. On the news front, international oil prices jumped sharply: WTI crude rose more than 8%, to $94.66; Brent crude rose more than 7%, to $95.78. Iran’s top leader, Mujtaba. Khamenei, said he will not give up his revenge, and the Strait of Hormuz will remain closed.

Analyst Dara Doyle said the market interpreted the remarks by newly appointed top leader Mujtaba. Khamenei as quite tough, with apparently no sign that Iran is prepared to back down to the United States and Israel. In his first public statement after taking office, he said the Strait of Hormuz should continue to remain closed, and threatened to open new fronts in the war. This has intensified market concerns about the continued disruption of supply through the world’s key oil choke point.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes