US energy sector falls on EIA data, demand concerns

Marathon Oil

28/08/2024 16:02

(Updates)
    ** S&P 500 Energy sector  .SPNY  falls as crude prices
extend losses  O/R 
    ** Brent crude  LCOc1  down 1.1% at $78.70/bbl and U.S. West
Texas Intermediate crude  CLc1  down 1.2% at $74.65/bbl,
pressured by persistent concerns over Chinese demand, elevated
risks of a broader slowdown and Energy Information
Administration data that showed weaker-than-expected weekly drop
in U.S. crude inventories
    ** Energy majors Exxon Mobil  XOM.N  and Chevron  CVX.N 
fall 0.8% and 0.6%, respectively
    ** Shares of Williams Companies  WMB.N , Conocophillips
 COP.N , Baker Hughes  BKR.O , EQT Corp  EQT.N  and Halliburton
 HAL.N  lose between 1.1% and 1.9%
        ** Top pct loser on the energy index, SLB  SLB.N , falls
about 2.9%

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