Energy firms gain as U.S. driving season fuels demand prospects

Clearway Energy

25/05/2022 12:39

** Shares of oil companies rise premarket, tracking crude
prices amid prospect of higher demand in U.S., world's No.1
crude consumer, as country heads into summer driving season
 urn:newsml:reuters.com:*:nL2N2XH06Y
    ** Brent  LCOc1  rose by $1.69, or 1.5%, to $115.25/bbl by
0940 GMT (0540 ET), while U.S. WTI  CLc1  rose by $1.86, or
1.7%, to $111.63/bbl  O/R 
    ** Oil majors Chevron  CVX.N  and ExxonMobil  XOM.N  inched
up 0.4% each, ahead of their annual shareholders meeting on Wed
    ** U.S. shares of French oil major TotalEnergies  TTE.N 
advanced 1.3% amid its shareholder meeting on Wed
    ** Co says it will buy a 50% stake in U.S. renewables
developer Clearway Energy Group for $1.6 bln in cash plus
interest  urn:newsml:reuters.com:*:nL3N2XH226  urn:newsml:reuters.com:*:nL2N2XH08T
    ** Producers Diamondback Energy  FANG.O , Occidental
Petroleum  OXY.N , Marathon Oil  MRO.N  and APA  APA.O  add
0.5%-1.3%
    ** Oilfield services firms Schlumberger  SLB.N  and
Halliburton  HAL.N  gain 0.3% each
    ** ProShares Ultra Bloomberg Crude Oil  UCO.P  and United
States Oil ETF  USO.P  1.4% and 0.8%, respectively

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))