Energy sector rise as supply worries push crude higher

Callon Petroleum Co

13/10/2023 14:57

(Updates)
    ** S&P 500 Energy Sector  .SPNY  up 1.8%, tracking over 3%
gain in crude prices
    ** The U.S. tightened its sanctions program against Russian
crude exports, raising supply concerns in an already tight
market, while global inventories are expected to decline through
Q4
    ** Brent crude  LCOc1  up 3.6% at $89.09/bbl; US West Texas
Intermediate crude  CLc1  up 3.6% at $85.89/bbl  O/R 
    ** Oil majors Exxon Mobil  XOM.N  and Chevron  CVX.N  each
rise 1.4%
        ** APA  APA.O , ConocoPhillips  COP.N , Diamondback
Energy  FANG.O  EOG Resources  EOG.N  and Halliburton  HAL.N 
climb between 2% and 3.6%, among the top pct gainers on the
energy sector 
        ** Russia is the world's second-largest oil producer and
a major exporter and the tighter U.S. scrutiny of its shipments
could curtail supply
  

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