US energy stocks down as crude falls on oversupply concerns, stronger dollar

Texas Pacific Land (Dover)

04/11/2025 15:26

Updates

** S&P 500 energy index .SPNY falls 1.5%, tracking declining oil prices O/R

** Brent crude futures LCOc1 down 0.7%, at $64.42/barrel; U.S. West Texas Intermediate crude futures CLc1 fall 0.8% to $60.55/barrel

** Oil prices fell as the OPEC+ decision to pause output hikes in the first quarter of next year, along with weak manufacturing data and a stronger U.S. dollar, weighed on the market

** Energy majors Chevron CVX.N down 1% and Exxon Mobil XOM.N falls 0.8%

    ** Valero Energy VLO.N down 2.2%, Phillips 66 PSX.N falls 2.1%, Williams Companies WMB.N dips 2.4% and Marathon Petroleum MPC.N slips 9.7%; among top percentage losers on energy index

 ** MPC
missed
 Wall Street estimates for Q3 adjusted profit, as higher refining turnaround costs offset stronger refining margins

** Oilfield services companies Baker Hughes BKR.O falls ~1% and SLB SLB.N down 2.1%

** Refiner PBF Energy PBF.N falls 3.2%

(Reporting by Katha Kalia and Pooja Menon in Bengaluru)

((Katha.Kalia@thomsonreuters.com))