Oil companies rise on Middle East supply concerns

Callon Petroleum Co

04/01/2024 13:15

** Shares of oil and gas companies rise premarket, tracking
gains in crude prices  O/R 
    ** Brent crude  LCOc1  up 0.9% at $78.91/bbl and US West
Texas Intermediate crude  CLc1  up 1.1% at $73.47 on concerns
over Middle Eastern supply after disruptions at an oilfield in
Libya and heightened tensions relating to the Israel-Hamas war
    ** Energy majors Chevron  CVX.N  and Exxon Mobil  XOM.N 
each up 0.6%
    ** Shares of Diamondback Energy  FANG.O , ConocoPhillips
 COP.N , CNX Resources  CNX.N  and EQT Corp  EQT.N  rise between
0.5% and 0.7%
    ** Oilfield services companies SLB  SLB.N  and Halliburton
 HAL.N  gain 0.5% and 1%, respectively
    ** Shares of Callon Petroleum  CPE.N  climb as much as 6.3%
after APA Corp  APA.O  says it will buy Callon in a $4.5 bln
all-stock deal

 (Reporting by Vallari Srivastava)
 ((Srivastava.Vallari@thomsonreuters.com;))