US Stock Market Move | Oil stocks generally rose, Occidental Petroleum Corporation (OXY.US) up more than 3%.
On Thursday, oil stocks rose across the board, with Occidental Petroleum (OXY.US) and Imperial Oil (IMO.US) both rising more than 3%.
On Thursday, oil stocks rose across the board, with Occidental Petroleum Corporation (OXY.US) and Imperial Oil Limited (IMO.US) up over 3%, Petrobras (PBR.US) up over 2%, Chevron Corporation (CVX.US) and ConocoPhillips (COP.US) up over 1%. Analysts at Citigroup believe that if energy infrastructure is subject to widespread attacks and the Hormuz Strait remains closed for an extended period of time, the average price of Brent crude futures in the second and third quarters of this year could reach $130 per barrel.
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