Energy firms gain on Saudi speculator warning, falling U.S. stockpiles

Callon Petroleum Co

24/05/2023 16:50

** Shares of U.S. oil and gas firms rise, tracking higher
oil prices
    ** Brent crude  LCOc1  up 1.6% while U.S. West Texas
Intermediate (WTI) crude  CLc1  gains 1.8%
    ** Prices helped by tightening U.S. inventories and a
warning from the Saudi energy minister that raised the prospect
of further OPEC+ production cuts
    ** Oil majors Chevron Corp  CVX.N  and ExxonMobil Corp
 XOM.N  gain 0.7% and 1.3%, respectively
    ** Oil producers Occidental Corp  OXY.N , Callon Petroleum
Co  CPE.N , Devon Energy Corp  DVN.N , APA Corp  APA.O ,
Marathon Oil Corp  MRO.N  and SM Energy Co  SM.N  gain between
0.7% and 3%
    ** Oilfield services firms SLB  SLB.N , Patterson-UTI Energy
Inc  PTEN.O , Baker Hughes Co  BKR.O  and Halliburton Co  HAL.N 
climb between 0.3% and 1.4%
    ** Refiners HF Sinclair Corp  DINO.N , Phillips 66  PSX.N ,
Valero Energy Corp  VLO.N  and PBF Energy Inc  PBF.N  up 0.5% to
1.5%

 (Reporting by Arshreet Singh)
 ((Twitter: https://twitter.com/Arshreets))