Patterson-UTI Energy is trading now, 10.17% up at $10.87 as higher crude prices support a broader energy-sector rally.
- Uncertainty over whether the Strait of Hormuz will reopen, including Iran’s additional conditions for an agreement, has kept an oil-market risk premium in place.
- Reuters reported Brent crude rising as much as 1.7% on August 10.
- No new company-specific catalyst was identified.