US Stock Market Move | Oil stocks generally rise, with Petrobras (PBR.US) up more than 4%.

On Monday, oil stocks broadly rose, with Petrobras (PBR.US) increasing by over 4%, Exxon Mobil Corporation (XOM.US) and Chevron Corporation (CVX.US) nearly rising by 3%, and ConocoPhillips (COP.US), Occidental Petroleum Corporation (OXY.US), and BP p.l.c. Sponsored ADR (BP.US) gaining over 2%. On August 31, international crude oil futures saw an increased intraday rise, with WTI crude oil futures prices peaking at a 4% increase, while Brent crude oil futures prices rose by over 3.8% at one point. In terms of news, the U.S. military struck two rocket launchers on Iran's Larak Island near the Strait of Hormuz on the 30th. This operation marked the first U.S. military strike against Iranian targets in a month. The Islamic Revolutionary Guard Corps of Iran subsequently issued a statement claiming that in response to the aggression against Iran's Larak Island by American and Israeli enemies, the Aerospace Force of the IRGC launched missiles and drones, destroying technical and maintenance infrastructure at two U.S. air force bases located within Jordan and causing significant damage to enemy fighter jet positions. Morgan Stanley released a report on Monday, significantly raising its short-term oil price forecasts, increasing the target price for Brent crude oil in the fourth quarter of this year from the previous $75 per barrel to $100, and raising WTI crude oil from $76 to $96.