Energy firms rise as oil rebounds on fading US debt default risk

Callon Petroleum Co

19/05/2023 13:58

** Shares of U.S. oil and gas firms gain premarket, tracking
higher oil prices
    ** Brent crude  LCOc1  up 1.77% and U.S. West Texas
Intermediate (WTI) crude  CLc1  advances 1.70% as investors turn
cautiously optimistic over the fading risk of a U.S. debt
default  O/R 
    ** Oil majors Chevron Corp  CVX.N  and Exxon Mobil Corp
 XOM.N  rise 0.8% and 0.9%, respectively
    ** Oil producers Diamondback Energy Inc  FANG.O , Devon
Energy Corp  DVN.N , Ovintiv Inc  OVV.N , Callon Petroleum Co
 CPE.N , Occidental Petroleum Corp  OXY.N  and EOG Resources Inc
 EOG.N  gain between 0.9% and 2.5%
    ** Oilfield services firms Halliburton Co  HAL.N  and SLB
 SLB.N  climb 1.3% and 1.1%, respectively 
    ** United States Oil Fund LP  USO.P  up 1.5% and ProShares
Ultra Bloomberg Crude Oil  UCO.P  rises 2.97%

 (Reporting by Ankit Kumar)
 ((Ankit.Kumar2@thomsonreuters.com))