Oil prices top $103, boosting Devon, Diamondback, and Occidental shares by up to 5%.

WTI crude oil prices have surged past $103 per barrel due to Middle East tensions, particularly concerns over potential U.S. strikes on Iran. This rise has propelled Permian Basin producers like Devon Energy and Diamondback Energy to gain 5% in stock value, while Occidental Petroleum shares rose 3%. The rally reflects strong demand and supply disruptions, with companies benefiting from higher cash flows and production growth potential. However, oil price volatility remains a risk, and investors are advised to watch if prices hold above $100 amid ongoing geopolitical uncertainties.

Diamondback Energy leads the rally on Pluang with a market cap of $56.26 billion and a 1-day gain of 4.45% as of Oct 24, 2026 00:21 WIB. Devon Energy follows closely with a market cap of $54.10 billion and a 4.25% increase, while Occidental Petroleum’s shares are up 3.01% with a market cap of $62.48 billion. These energy stocks show strong investor interest, reflected in Pluang order activity where Diamondback Energy is bought 100% and Occidental Petroleum 86%.