BUZZ-US energy stocks fall as Brent hits lowest since before Iran conflict
Marathon Petroleum Corporation MPC | 0.00 | |
Chevron Corporation CVX | 0.00 | |
SLB Limited SLB | 0.00 | |
Occidental Petroleum Corporation OXY | 0.00 | |
Halliburton Company HAL | 0.00 |
** S&P 500 energy index .SPNY down 2.45%, tracking decline in crude prices O/R
** Brent crude futures LCOc1 fell 4.3% at $73.76/barrel while U.S. West Texas Intermediate crude CLc1 down 4.13% at $70.19/barrel
** Oil prices fall more than $3 to their lowest level since before the start of the Iran war as signs emerged that more oil tankers are set to move out of the Strait of Hormuz
** Energy giants Exxon Mobil XOM.N and Chevron CVX.N down 1.9% and 1.8%, respectively
** Liberty Energy LBRT.N, APA Corp APA.O, SM Energy SM.N, Devon Energy DVN.N and Occidental Petroleum OXY.N fell between 1.8% and 4.2%, among top percentage losers on energy index
** Oilfield services companies: Halliburton HAL.N fell 2% and SLB SLB.N down 2.3%
** Refiners: Phillips 66 PSX.N down 1.6% and Marathon Petroleum MPC.N fell ~2%