Oil companies fall as crude prices drop on demand worries

Callon Petroleum Co

26/10/2023 15:30

** S&P 500 energy index  .SPNY  slips 1.4% as oil prices
edge lower
    ** Brent crude  LCOc1  down 2.2% at $88.13/bbl and US West
Texas Intermidiate crude  CLc1  down 2.7% at $83.13/bbl as a
rise in U.S. crude stockpiles signaled waning demand and
concerns about the economic outlook drove a broader selloff in
equities  O/R 
    ** Oil majors Exxon Mobil  XOM.N   and Chevron  CVX.N  fall
1.68% and 1.10%, respectively 
    ** Valero Energy  VLO.N  , Halliburton  HAL.N ,
ConocoPhillips  COP.N , and Devon Energy  DVN.N  fall
1.75%-3.21%; among top losers on the energy index
    ** Oil and gas producers Hess  HES.N , Callon Petroleum
 CPE.N  and Marathon Oil  MRO.N  down between 1% and 2.7%
    ** Oilfield services companies SLB  SLB.N  and Liberty
Energy  LBRT.N  down 1.13% and 1.63%, respectively 
    ** Oil and gas refiners PBF Energy  PBF.N  and Phillips 66
 PSX.N  fall 2.36% and 2.21%, respectively  
    

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com))