US Stock Market Move | Oil stocks rise. Battalion Oil (BATL.US) soars over 20%.

On Thursday, oil stocks rose. Battalion Oil (BATL.US) surged over 20%, U.S. Energy Corp. (USEG.US) rose more than 6%, Murphy Oil Corporation (MUR.US) rose over 4%, Occidental Petroleum Corporation (OXY.US) rose over 3%, and ConocoPhillips (COP.US) rose nearly 2%. In terms of news, international oil prices surged with WTI crude oil rising over 8% to $94.66 and Brent crude rising over 7% to $95.78. Iranian Supreme Leader Ayatollah Ali Khamenei stated that they will not abandon revenge and the Strait of Hormuz will remain closed. Analyst Dara Doyle mentioned that the market interprets the statements of the new Iranian Supreme Leader, Ayatollah Ali Khamenei, as quite hardline, showing no signs of Iran being ready to concede to the U.S. and Israel. In his first public statement after taking office, he said that the Strait of Hormuz should remain closed and threatened to open new fronts in war. This exacerbates concerns in the market about the continued disruption in the supply of key global oil chokepoints.