Energy cos slip as demand fears pressure crude prices

Callon Petroleum Co

04/10/2023 12:43

** Oil and gas companies slip premarket tracking over 1%
decline in crude prices
    ** Brent crude oil  LCOc1  down 1.7% at $89.34/bbl while 
U.S. West Texas Intermediate crude (WTI)  CLc1  falls 1.9% to
$87.57/bbl as prices remain under pressure from demand fears
driven by macroeconomic headwinds  O/R 
    ** Pledges by Saudi Arabia and Russia to continue crude
output cuts to the end of 2023 were offset by demand fears
stemming from macroeconomic headwinds
    ** Oil and gas producers Occidental Petroleum  OXY.N ,
Callon Petroleum  CPE.N , Marathon Oil  MRO.N  and Devon Energy
 DVN.N  slip 1%
    ** Oilfield services firm Halliburton  HAL.N  down 1%
    ** Refiners Valero  VLO.N  and Marathon Petroleum  MPC.N 
decline 1.2% and 1.3%, respectively

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
 ;))