US energy sector rebounds as market resumes after holidays

Permian Resources

02/01/2025 17:28

** Shares of U.S. oil companies rise, tracking crude prices
 O/R 
    ** Benchmark Brent crude  LCOc1  up 2.4%, at $76.43 a barrel
and U.S. WTI crude  CLc1  up 2.7%, at $73.64 a barrel, as
investors returned for the first trading day of the new year
with an optimistic eye on China's economy and fuel demand after
a pledge by President Xi Jinping to promote growth  O/R 
    ** Energy majors Exxon Mobil  XOM.N  up 0.3% and Chevron
 CVX.N  up 1.9% 
    ** Permian Resources  PR.N  up 3.8%, Devon Energy  DVN.N  up
3.1%, Halliburton  HAL.N  up 3%, PBF Energy  PBF.N  up 1.5% -
among the top pct. gainers on the energy index
    ** Energy Information Administration data for the week
ending Dec. 27 showed crude stocks down, while gasoline and
distillate inventories rose sharply as demand weakened in the
week 

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