BUZZ-Energy companies dip on rate-cut doubts and Russia sanctions relief hopes
Marathon Petroleum Corporation MPC | 238.16 238.15 | -2.47% 0.00% Post |
Halliburton Company HAL | 38.00 37.75 | -2.54% -0.65% Post |
Expand Energy Corporation EXE | 106.03 106.03 | -3.42% 0.00% Post |
Phillips 66 PSX | 175.64 175.30 | -3.59% -0.19% Post |
Diamondback Energy, Inc. FANG | 190.62 189.02 | -3.63% -0.84% Post |
** S&P 500 energy index .SPNY falls 1.1% as oil prices edge lower O/R
** Brent crude LCOc1 down 6 cents at $62.50/barrel and U.S. West Texas Intermediate (WTI) crude futures CLc1 dip 3 cents at $58.03/barrel
** Oil prices fall as investors weigh the chances of a U.S. rate cut against the prospect of a Ukraine peace deal that could lead to an easing of sanctions on major producer Russia
** Oil majors Exxon Mobil XOM.N and Chevron CVX.N fall 1.5% and ~1%, respectively
** EQT Corp EQT.N, Valero Energy VLO.N, Expand Energy EXE.O and EOG Resources EOG.N fall between 1.4% and 2.4%; among biggest pct decliners on the energy index
** Refiners Phillips 66 PSX.N down 1.4% and Marathon Petroleum MPC.N down ~1%
** Oilfield services company Halliburton HAL.N dips ~1% and Baker Hughes BKR.O down marginally
(Reporting by Dharna Bafna in Bengaluru)
((dharna.bafna@thomsonreuters.com))