ConocoPhillips Stock Rises as Brent Surges on Strait of Hormuz Tensions
ConocoPhillips climbed near multiyear highs as crude benchmarks surged, with Brent pushing past $100 for the first time in months. Traders linked the move to escalating tensions around the Strait of Hormuz, a key route for seaborne crude and LNG. The energy sector stood out as broader markets slipped, with options and trading volumes elevated alongside shifting Gulf headlines.