Oil companies fall as demand concerns offset supply risks

Marathon Oil

28/08/2024 13:35

** U.S. oil and gas companies fall premarket, tracking crude
prices which are down more than 1%  O/R 
    ** Brent crude  LCOc1  down 1.4% at $78.46/bbl and U.S. West
Texas Intermediate crude  CLc1  down 1.5% at $74.42/bbl, hurt by
persistent concerns over Chinese demand and elevated risks of a
broader slowdown; however, the declines were capped by potential
supply losses from the Middle East and Libya
    ** Energy majors Exxon Mobil  XOM.N  and Chevron  CVX.N 
fall 0.5% and 0.4%, respectively
    ** Shares of APA Corp  APA.O , Marathon Oil  MRO.N  drop 1%
each, and SM Energy  SM.N  loses 2.5%
    ** Oilfield services firms SLB  SLB.N  and Halliburton
 HAL.N  fall 1.3% and 1%, respectively

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))