US energy sector rebounds as oil prices make slight recovery
07/12/2023 15:58
** S&P 500 Energy Sector .SPNY up 0.83%, as crude prices
recoup previous losses
** Brent crude LCOc1 rises 0.97% to $74.88/bbl and US West
Texas Intermediate crude CLc1 up 0.94% at $70.03/bbl as weak
U.S. and China demand data amid record U.S. gasoline output
triggered a 4% drop in crude prices on Wednesday O/R
** Oil majors Exxon Mobil XOM.N and Chevron CVX.N up
1.36% and 0.92% respectively
** Pioneer Natural Resources PXD.N , Valero Energy VLO.N ,
Diamondback Energy FANG.O and Devon energy DVN.N , rise
between 1% and 1.54%, among top pct. gainers on the energy index
** Separately, Chevron on Wednesday forecast increased
capital spend for 2024
(Reporting by Kabir Dweit)
((Kabir.Dweit@thomsonreuters.com))