US Stock Market Move | Oil stocks rise, Occidental Petroleum Corporation (OXY.US) up 3%
On Friday, oil stocks rose across the board, with Occidental Petroleum (OXY.US) up 3% and ConocoPhillips (COP.US) up over 2%.
On Friday, oil stocks rose across the board, with Occidental Petroleum Corporation (OXY.US) up 3%, ConocoPhillips (COP.US) up over 2%, Chevron Corporation (CVX.US), and Imperial Oil Limited (IMO.US) both up over 1%. Brent crude oil futures main contract rose nearly 3%. On the news front, the United States has rejected Iran's "14-point" written proposal to end the war. Reports indicate that the US government has responded to the written proposal, rejecting Tehran's plan and "reaffirming its tough stance," especially on nuclear issues.
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