US energy sector mixed as market digests US crude data, awaits Fed rates decision

Pembina Pipeline

18/09/2024 18:30

** S&P 500 Energy Sector  .SPNY  up 0.5% despite fall in
crude prices
    ** Brent crude  LCoc1  down 0.6% to $73.26/bbl, and U.S.
West Texas Intermediate crude  CLc1  falls ~0.9% to $70.58/bbl,
as the market cautiously awaited a rate cut announcement from
the Fed while investors digested a mixed crude and fuel storage
report out of the U.S.
    ** Crude inventories fell by 1.6 million barrels to 417.5
million barrels in the week ending Sept. 13, per EIA data, vs.
ests. for a 500,000-barrel draw in a Reuters poll, analysts say
higher draw potentially due to Hurricane Francine  O/R 
    ** Gasoline and distillate inventories, meanwhile, rose
slightly last week.
    ** Energy majors Exxon Mobil  XOM.N  up 0.5% and Chevron
 CVX.N  up 0.8%
    ** Top gainers include CNX Resources  CNX.N  up 2.7%,
Chesapeake  CHK.O  rising 1.9% and PBF Energy  PBF.N  gaining 2%
    ** Top falling stocks include Strathcona Resources  SCR.TO 
down 2.2%, Pembina Pipeline  PPL.TO  falling 1.4%, and
Transocean  RIGN.S  

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))