Energy sector falls on profit taking

Callon Petroleum Co

01/08/2023 17:07

** S&P 500 energy index  .SPNY  fell around 1.4% as oil
prices declined on signs of profit-taking after rallying in July
when investors wagered on tightening global supplies and demand
growth in the second half of the year
    ** Brent crude futures  LCOc1  down 1% at $84.57 a barrel;
U.S. West Texas Intermediate (WTI) crude  CLc1  down 1.1% to
$80.92 a barrel, and recorded highest monthly gains in July
since January 2022  O/R 
    ** Oil majors Chevron  CVX.N  and Exxon Mobil  XOM.N  down
1.7% and 1.4%, respectively
    ** Callon Petroleum Co  CPE.N , SM Energy Co  SM.N , Vital
Energy Inc  VTLE.N  down between 2.1% and 3.7%, among top pct.
drops on the energy index
    ** Refiner Marathon Petroleum Corp  MPC.N  reported a 63%
drop in second-quarter profit, falling as much as 1.4% earlier
in the day
    ** Oilfield services firms down between 0.3% and 3.1% 

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))