BUZZ-US energy sector falls on soft Chinese spending

Reuters12-17
BUZZ-US energy sector falls on soft Chinese spending

** S&P 500 energy index .SPNY down 1.6%, as oil prices ease from the highest levels in several weeks O/R

** Brent crude futures LCOc1 down 1% at $73.77/barrel; U.S. West Texas Intermediate crude futures CLc1 down 1.04% at $70.55/barrel

** Oil prices down on weakness in consumer spending in China, world's largest oil importer; also, investors paused buying ahead of the U.S. Federal Reserve's interest rate decision

** Top oil and gas companies Exxon Mobil XOM.N and Chevron CVX.N down 1.5% and 2.1%, respectively

** APA Corp APA.O down 4.1%, Phillips 66 PSX.N down 3.8% and Devon Energy DVN.N down 2.9%; among top pct losers on the energy index

** Oilfield services firm Halliburton HAL.N down 1.5%

** Refiners PBF Energy PBF.N down 4.8% and HF Sinclair DINO.N down 3.7%

** Phillips 66 to sell its 25% stake in the Gulf Coast Express Pipeline to ArcLight Capital Partners for about $865 mln

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment