Energy stocks close higher as oil jumps on Iran sanctions; XLE, Exxon and Chevron in focus next week
Energy shares rose Friday as crude prices surged nearly 3% on Iran supply concerns and new sanctions. The Energy Select Sector SPDR Fund (XLE) gained 0.6% to $49.19, while Brent settled at $65.88 and WTI at $61.07. Exxon Mobil closed up 1.0%. SLB slipped 0.3% despite beating profit forecasts and raising its dividend.