ConocoPhillips is trading 4% up at $122.32, supported primarily by a broad energy-sector rally as crude prices rise amid uncertainty over reopening the Strait of Hormuz.
- Brent rose more than 3% and WTI rose 3.1%; other major oil producers also advanced.
- The August 6 earnings beat and doubled buybacks provide additional supportive background.
- No new company-specific catalyst was identified today.