Energy stocks fall as US fuel stock builds put focus on demand

Targa Resources

16/07/2025 16:35

** S&P 500 Energy index .SPNY down 0.9%, tracking decline in crude prices O/R

** Brent crude futures LCOc1 down 1.1% at $67.95/barrel and U.S. West Texas Intermediate crude futures CLc1 fall 1.2% to $65.70/barrel

** Crude prices decline as large U.S. fuel inventory builds added to demand worries stemming from the wider economic impact from U.S. tariffs

** The Energy Information Administration (EIA) says U.S. crude stocks fell, while gasoline and distillate inventories rose last week

** Both energy majors Chevron CVX.N and Exxon Mobil XOM.N down marginally

** Valero Energy VLO.N, Targa Resources TRGP.N, Phillips 66 PSX.N and APA Corp APA.O decline between 2.6% and 3.5%; among the top percentage losers on the energy index

** Oilfield services companies Baker Hughes BKR.O down 1.2%, Halliburton HAL.N dips 1.4% and SLB SLB.N falls 1.8% respectively

** Refiners Marathon Petroleum MPC.N down 1.5% and HF Sinclair DINO.N fall 2.8%

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))