US energy sector climbs as Saudi Arabia hikes prices

Permian Resources

06/05/2024 16:15

(Updates)
    ** S&P 500 Energy Sector  .SPNY  rises, tracking gains in
crude prices  O/R 
    ** Brent crude  LCOc1  up 0.6% at $83.52/bbl and U.S. West
Texas Intermediate crude  CLc1  up 0.7% at $78.70/bbl, after
Saudi Arabia hikes June prices for most regions
    ** Dimming prospects of a ceasefire in Gaza, which renewed
fears the Israel-Hamas conflict can still widen in the key
oil-producing region, also support oil prices
    ** Energy majors Exxon Mobil  XOM.N  and Chevron  CVX.N 
rise 1.4% and 1.8%, respectively
    ** Shares of Coterra Energy  CTRA.N , Marathon Oil  MRO.N ,
ConocoPhillips  COP.N , EQT Corp  EQT.N  and APA Corp  APA.O ,
are among the top pct. gainers on the energy index, up between
1.9% and 2.8%

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