US energy sector dips on macroeconomic outlook concerns, doubts over OPEC+ cuts

Callon Petroleum Co

06/12/2023 15:56

** S&P 500 Energy sector  .SPNY  drops 0.78%, tracking a
fall in crude prices
    ** Brent crude  LCOc1  down 2.18% at $75.52/bbl and US West
Texas Intermediate crude  CLc1  down 2.48% at $70.54/bbl, as
investor skepticism on the planned supply cuts by OPEC+
continued and the macroeconomic outlook on demand worsened  O/R 
 
    ** Oil majors Exxon Mobil  XOM.N  and Chevron  CVX.N  fall
0.41% and 0.31%, respectively 
    ** Marathon Petroleum  MPC.N , Valero Energy  VLO.N ,
ConocoPhillips  COP.N  and Diamondback Energy  FANG.O  slip
between 1.35% and 2.19%, among top pct. losers on the energy
index

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