NYMEX Benchmark Crude March: +$2.85 (+3.2%) to $92.19
Top Energy Stocks
Energy shares are broadly higher in late trading as crude futures surged to top $92 a barrel at the close of commodities trading as investors bet on supplies being constrained from civil unrest in Egypt.
Light, sweet crude oil for March delivery finished up 3.2%, or $2.85, to $92.19 a barrel. In other energy futures, heating oil was up 1.68% to $2.73 a gallon while natural gas was up 2.29% to $4.42 per million British thermal units.
In late-session energy news, shares of Anadarko Petroleum ( APC ) are higher as the company is expected to report a Q4 profit of $0.21 per share on revenue of $2.753 billion, according to Thomson Reuters.
Anadarko shares are up 3.28% to $76.60.
Earlier today, Exxon Mobil ( XOM ) reported Q4 EPS of $1.85, which topped the $1.27 reported in the year-ago quarter and tops the Street estimate for $1.62.
The gain is based on higher prices and increased production, the AP says. It's the highest profit since Q3 2008. Revenue increased 17 percent to $105 billion. The Street expected $99.1 billion.
Exxon shares are up 2.23% to $80.76.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.