US energy sector declines tracking lower crude prices

Callon Petroleum Co

07/11/2023 15:05

(Updates)
    ** S&P 500 Energy Sector  .SPNY  falls 2.3%, tracking nearly
3% decline in crude price
    ** Brent crude  LCOc1  down 2.6% at $82.94/bbl, while U.S.
West Texas Intermediate crude  CLc1  falls 2.7% to $78.65/bbl as
mixed economic data from China offset the impact of Saudi Arabia
and Russia extending output cuts  O/R 
    ** Both benchmarks hit their lowest levels since late August
        ** EOG Resources  EOG.N , Diamondback Energy  FANG.O ,
EQT Corp  EQT.N , SLB  SLB.N , APA Corp  APA.O  fall between 3%
and 3.6%, among the top pct. decliners on the energy sector
  
    ** Oil majors Exxon Mobil  XOM.N  and Chevron  CVX.N 
decline 1.8% and 1.4%, respectively
    ** While China's crude oil imports in October showed robust
growth both year-on-year and month-on-month, its total exports
contracted at a quicker pace than expected

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