Energy firms down as crude falls on oversupply concerns, stronger dollar

Texas Pacific Land (Dover)

04/11/2025 09:56

** Shares of energy firms fall premarket, tracking crude prices O/R

** Brent crude futures LCOc1 down 1.3%, at $64.07/barrel; U.S. West Texas Intermediate crude futures CLc1 fall 1.4% to $60.21/barrel

** Prices fall as OPEC+'s decision to pause output hikes in the first quarter next year, along with weak manufacturing data and a stronger dollar, weighed on the market

** Energy majors Chevron CVX.N and Exxon Mobil XOM.N down 0.5% each

** EQT Corp EQT.N falls 1.5%, Coterra Energy CTRA.N slides 1.2% and Occidental Petroleum OXY.N dips 1.3%

** Oilfield services companies Halliburton HAL.N and SLB SLB.N down 0.6% and 1.1%, respectively

** Refiner Marathon Petroleum MPC.N slips 1.2%

(Reporting by Katha Kalia in Bengaluru)

((Katha.Kalia@thomsonreuters.com))