Energy firms gain on Saudi speculator warning, supply outlook

PDC Energy

23/05/2023 15:04

** Shares of U.S. oil and gas firms rise, tracking higher
oil prices
    ** Brent crude  LCOc1  up ~1% and U.S. West Texas
Intermediate (WTI) crude  CLc1  gains 1%, supported by optimism
the U.S. would avoid a debt default, a tighter market outlook
and a warning from the Saudi energy minister to speculators that
raised the prospect of further OPEC+ cuts to support the market
    ** Oil majors Chevron Corp  CVX.N  and ExxonMobil Corp
 XOM.N  gain 1.1% and 0.1%, respectively
    ** Oil producers Chesapeake Energy Corp  CHK.O , Devon
Energy Corp  DVN.N , SM Energy Co  SM.N , Callon Petroleum Co
 CPE.N , Ovintiv Inc  OVV.N  and PDC Energy Inc  PDCE.O  gain
between 0.3% and 1.8%
    ** Oilfield services firms Patterson-UTI Energy Inc
 PTEN.O , Halliburton Co  HAL.N , Baker Hughes Co  BKR.O  and
SLB  SLB.N  climb between 0.3% and 0.9%
    ** Refiners PBF Energy Inc  PBF.N , Phillips 66  PSX.N  and
Valero Energy Corp  VLO.N  up 0.2% to 1.9%
    ** United States Oil Fund LP  USO.P  gains 1.1% and
ProShares Ultra Bloomberg Crude Oil  UCO.P  climbs 2.2%

 (Reporting by Ankit Kumar)
 ((Ankit.Kumar2@thomsonreuters.com))