Oil firms fall as Israel-Iran conflict spares energy infrastructure

Marathon Oil

28/10/2024 10:05

** U.S.-listed shares of energy companies fall premarket,
tracking a more than $4/barrel drop in oil prices  O/R 
    ** Brent crude futures  LCOc1  down 5.8% at $71.65/barrel;
U.S. West Texas Intermediate crude futures  CLc1  down 6% at
$67.47/barrel
    ** Oil prices tumbled after Israel's retaliatory strike on
Iran over the weekend bypassed Tehran's oil and nuclear
facilities and failed to disrupt energy supplies
    ** Top oil and gas cos Exxon  XOM.N  and Chevron  CVX.N 
fall 2.3% and 1.8% respectively
    ** Shares of E&P cos Occidental Petroleum  OXY.N  fall 2.3%,
ConocoPhillips  COP.N  down 2.2% and Marathon Oil  MRO.N  dips
2.5%
    ** Shares of oilfield services firms Baker Hughes  BKR.O 
and SLB  SLB.N  fall 1.4% and 2.3% respectively
    ** Refiners Marathon Petroleum  MPC.N  and Phillips 66
 PSX.N  fall 1.5% and 1.3% respectively

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))