US energy sector rises after US Fed rate cut, Middle East worries

Crescent Energy

19/09/2024 17:02

** S&P 500 Energy Sector  .SPNY  up ~1.9 on rising crude
prices
    ** Brent crude  LCoc1  up 1.9% to $75.05/bbl, and U.S. West
Texas Intermediate crude  CLc1  rises ~2% to $72.29/bbl, after
an interest rate cut from the U.S. Fed  O/R 
    ** Markets also watched events in the Middle East after
Hand-held radios used by Lebanese armed group Hezbollah
exploded, raising concerns about supply interruptions 
    ** Energy majors Exxon Mobil  XOM.N  up 2% and Chevron
 CVX.N  up 1.9%
    ** Top gainers include Baker Hughes  BKR.N  rising 5.4% and
Crescent Energy  CRGY.N  gaining 3.7%
    ** Rest of the energy sector up between 1% to 3% 

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))