US energy stocks down as investors assess oversupply, geopolitics

Coterra Energy

02/12/2025 15:32

** S&P 500 energy index .SPNY falls 1.6% as oil prices edge lower O/R

** Brent crude LCOc1 down 0.6% at $62.79/barrel and U.S. West Texas Intermediate (WTI) crude futures CLc1 slip 0.6% at $58.96/barrel

** Oil prices fall as traders weigh up risks from Ukrainian drone strikes on Russian energy sites and concerns about oversupply

** Oil majors Exxon Mobil XOM.N down 1.3% and Chevron CVX.N down ~2%

** Valero Energy VLO.N, Marathon Petroleum MPC.N, SLB SLB.N and Baker Hughes BKR.O fall between 2.1% and 3%; among biggest percent decliners on the energy index

** Refiner Phillips 66 PSX.N down 2.1%

 (Reporting by Dharna Bafna in Bengaluru)

 ((dharna.bafna@thomsonreuters.com))