Oil companies rise as supply worries push crude prices higher

Callon Petroleum Co

13/10/2023 11:00

** Oil and gas companies rise in premarket trading, tracking
a 3% gain in crude prices
    ** 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
the fourth quarter 
    ** Brent crude  LCOc1  up 3% at $88.59/bbl, while US West
Texas Intermediate crude  CLc1  rises 3.2% at $88.54/bbl  O/R 
    ** Oil majors Exxon Mobil  XOM.N  and Chevron  CVX.N  each
rise 1%
    ** Oil and gas producers Callon Petroleum  CPE.N  and
Occidental Petroleum  OXY.N  up 2% and 1.3%, respectively

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