BUZZ - Due to concerns over attacks on Saudi Arabia, oil prices soar and US energy stocks rise

October 22 - ** Driven by the rise in crude oil prices, U.S. energy stocks moved higher in pre-market trading O/R

** Brent crude oil futures LCOc1 rose 2.8% to $111.88 per barrel, after touching the highest point since May; while U.S. West Texas Intermediate crude CLc1 climbed 2.4% to $99.48 per barrel

** Oil prices rose (link) as Houthi forces launched more attacks in Saudi Arabia, increasing concerns in the market over an escalation of conflict and renewed supply disruptions in key global oil-exporting regions

** “The market remains extremely volatile and highly sensitive to changes in the geopolitical situation. We do not see any reason in the short term to trigger a price decline,” said Ashley Kelty, analyst at Panmure Liberum

** Energy giants: Exxon Mobil XOM.N rose 1.4%, Chevron CVX.N gained 1.2%

** Oil and gas producers: SM Energy SM.N, EOG Resources EOG.N, ConocoPhillips COP.N, and Devon Energy DVN.N increased between 1.3% and 2.5%

** Refiners: Marathon Petroleum (MPC.N), Phillips 66 (PSX.N), and Valero Energy (VLO.N) climbed 1.6%, 1.9%, and 1.5% respectively

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