US energy stocks decline as crude prices weaken

Texas Pacific Land (Dover)

01/04/2026 15:42

Updates

** S&P 500 energy index .SPNY down 3.8%, tracking a decline in crude prices O/R

** Brent crude futures LCOc1 down 2.5% at $101.40/barrel; U.S. West Texas Intermediate crude CLc1 falls 2.3% to $99.04/barrel

** Crude prices decline reversing earlier gains as uncertainty over the situation in the Middle East unnerved markets and U.S. President Donald Trump again suggested the U.S.-Israeli war with Iran could be nearing an end

** Chevron CVX.N, ConocoPhillips COP.N, Texas Pacific Land Corp TPL.N, Devon Energy DVN.N and Exxon Mobil XOM.N decline between 3.8% and 4.7%; among the top percentage losers on the energy index

** Refiners: Phillips 66 PSX.N down 3.8%, Marathon Petroleum MPC.N falls 4% and Valero Energy VLO.N dips 3.7%

 (Reporting by Sumit Saha in Bengaluru)

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