Energy companies fall as crude prices drop amid supply concerns and Venezuelan uncertainty

ProPetro Holding

06/01/2026 18:29

** S&P 500 Energy index .SPNY down 2.2%, tracking falling crude prices O/R

** Brent crude futures LCOc1 down 0.4% at $61.51/barrel, and U.S. West Texas Intermediate crude CLC1 falls 0.6% to $58/barrel

** Crude prices fall as market weighs expectations of ample global supply this year against uncertainty around Venezuelan crude supplies after the U.S. capture of the country's leader

** Oil majors Exxon XOM.N and Chevron CVX.N down ~2% and 4.2% respectively

** ConocoPhillips COP.N falls 1.2%, Diamondback Energy FANG.O down 2%, and APA Corp APA.O slips 2.1%

** Oilfield services companies Halliburton HAL.N down 3.3% and ProPetro Holding PUMP.N falls 4%

** Refiners PBF Energy PBF.N and Marathon Petroleum MPC.N down 3.1% and 1.6% respectively

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com))