BUZZ-Energy companies fall as crude prices drop amid supply concerns and Venezuelan uncertainty

Reuters01-07
BUZZ-Energy companies fall as crude prices drop amid supply concerns and Venezuelan uncertainty

** S&P 500 Energy index .SPNY down 2.2%, tracking falling crude prices O/R

** Brent crude futures LCOc1 down 0.4% at $61.51/barrel, and U.S. West Texas Intermediate crude CLC1 falls 0.6% to $58/barrel

** Crude prices fall as market weighs expectations of ample global supply this year against uncertainty around Venezuelan crude supplies after the U.S. capture of the country's leader

** Oil majors Exxon XOM.N and Chevron CVX.N down ~2% and 4.2% respectively

** ConocoPhillips COP.N falls 1.2%, Diamondback Energy FANG.O down 2%, and APA Corp APA.O slips 2.1%

** Oilfield services companies Halliburton HAL.N down 3.3% and ProPetro Holding PUMP.N falls 4%

** Refiners PBF Energy PBF.N and Marathon Petroleum MPC.N down 3.1% and 1.6% respectively

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@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