US Stock Market Movement: US crude oil futures surge over 5% to a two-week high, oil and gas stocks generally rise

Glonhui April 28｜Oil and gas stocks generally rose, with Total up 2.9%, Chevron and Devon Energy up 2.3%, ExxonMobil and Occidental Petroleum up nearly 2%, Murphy Oil up 1.5%, Shell and BP up 1.3%. On the news side, WTI crude oil futures prices once rose more than 5%, reaching a high of $101.8 per barrel and hitting a two-week high; Brent crude oil futures once rose more than 4%, reaching a high of $105.8 per barrel. Previously, the United Arab Emirates announced it will officially withdraw from OPEC and OPEC+ on May 1, ending a sixty-year history as a member. This decision marks one of the world's major oil-producing countries departing from the current international oil production coordination framework, prompting a reassessment of the global oil market supply structure.