Energy companies down after US data shows large builds in fuel stocks

Texas Pacific Land (Dover)

04/06/2025 18:09

Updates

** S&P 500 energy index .SPNY down 1.7%, tracking a dip in oil prices O/R

** Brent crude futures LCOc1 falls 1.3% to $64.76/barrel, while U.S. West Texas Intermediate crude CLc1 down 1.1% at $62.72/barrel

** Oil prices slipped after U.S. data showed larger-than-expected inventories of gasoline and diesel, adding to supply concerns amid global trade tensions and ongoing OPEC+ output increases

** Energy majors Chevron CVX.N and Exxon XOM.N down 1.4% and 1.3%, respectively

** Valero Energy VLO.N, Marathon Petroleum MPC.N, Phillips 66 PSX.N, Texas Pacific Land Corp TPL.N and Diamondback Energy FANG.O decline between 3.9% and ~2%; among the top percentage losers on the energy index

** Oilfield services companies: Halliburton HAL.N down 1.5% and SLB SLB.N dips 1.8%

** Refiner HF Sinclair DINO.N falls 3.6%

 (Reporting by Sumit Saha in Bengaluru)

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