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Shares of oil and gas companies are trading higher amid a rise in crude after reports suggesting that Saudi Aramco deferred and cancelled some September crude cargoes meant for European refiners after the closure of its East-West pipeline to the Red Sea. Also, ongoing Saudi strikes on Yemen's Houthi rebels and a tight global diesel market are helping to support crude prices.
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Shares of oil and gas-related companies are trading lower amid crude price declines after reports suggesting that President Trump may meet with Iranian President Pezeshkian in New York. Also, reports suggest Trump declined to attack Yemen's Houthi rebels on behalf of Saudi Arabia, which may be seen as a de-escalation.