BUZZ-Energy companies fall on lower oil prices

Reuters12-16 00:49
BUZZ-Energy companies fall on lower oil prices

** S&P 500 energy index .SPNY falls 1.1% as oil prices edge lower

** Brent crude LCOc1 down 0.8% at $60.65/barrel and U.S. West Texas Intermediate $(WTI)$ crude futures CLc1 dip 1.03% to $56.85/barrel

** Oil prices fall as investors balance supply disruptions linked to escalating U.S.-Venezuelan tensions with oversupply concerns and the impact of a potential Russia-Ukraine peace deal O/R

** Oil majors Exxon Mobil XOM.N down 1.3% and Chevron CVX.N falls ~1%

** APA Corp APA.O, Texas Pacific Land Corp TPL.N, Occidental Petroleum OXY.N and EOG Resources EOG.N fall between 2.1% and 3.1%, among biggest percent decliners on the energy index

** Refiners Phillips 66 PSX.N and Marathon Petroleum MPC.N down marginally

** Oilfield services companies SLB SLB.N down 1.3% and Halliburton HAL.N down ~1%

(Reporting by Dharna Bafna in Bengaluru)

((dharna.bafna@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