Energy firms rise on weaker US dollar, strong oil demand

Par Pacific Holdings

06/01/2025 15:17

** S&P 500 Energy index  .SPNY  rises 1.1% as oil prices
remain at their highest since mid-October  O/R 
    ** Brent crude futures  LCOc1  up 1% at $77.27/barrel; U.S.
West Texas Intermediate crude futures  CLc1  up 1.1% at
$74.78/barrel
    ** Oil prices rise as colder weather spurred buying, while
further support was provided by a weaker U.S. dollar and
expectations of tighter sanctions on Iranian and Russian oil
exports
    ** Shares of top oil and gas companies Chevron  CVX.N  and
Exxon Mobil  XOM.N  up 1.6% and 1.7%, respectively
    ** APA Corp  APA.O  up 2.7%, Coterra Energy  CTRA.N  rises
2.2% and Occidental Petroleum  OXY.N  up 2.1%; among top pct.
gainers on the energy index
    ** Oilfield services firms SLB  SLB.N  and Halliburton
 HAL.N  up 1.7% and 2%, respectively
    ** Refiners PBF Energy  PBF.N  up 1.5% and Par Pacific
Holdings  PARR.N  rises 2.5%

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