Energy stocks down as Trump asks "everyone" to keep oil prices down, Mideast tensions weigh

Permian Resources

23/06/2025 15:54

Updates

** S&P 500 energy index .SPNY down 0.4%, tracking a dip in crude prices O/R

** Brent crude futures LCOc1 fall over 1% to $76.14/barrel; U.S. West Texas Intermediate crude futures CLc1 down 1.2% at $72.94/barrel

** Crude prices slipped over $1 a barrel, as oil and gas transit continued on tankers from the Middle East after U.S. airstrikes against Iran at the weekend

** Although analysts say prices could spike in the near-term, investors are still weighing the extent of the geopolitical risk premium, given the Middle East crisis has yet to crimp supply

** Additionally, U.S. President Donald Trump on Monday expressed a desire to see oil prices kept down amid fears that ongoing fighting in the Middle East could cause them to spike

** Oil major Exxon Mobil XOM.N falls marginally

** Diamondback Energy FANG.O,APA Corp APA.O, Halliburton HAL.N and Devon Energy DVN.N  decline between 2% and 4.2%; among the top percentage losers on the energy index

** Oilfield services firms SLB SLB.N and Baker Hughes BKR.O down 1.6% and 1%, respectively

** Refiner PBF Energy PBF.N dips 1.2%

 (Reporting by Rashika Singh and Sumit Saha in Bengaluru)

 ((Rashika.Singh@thomsonreuters.com;))