Energy firms fall on lower oil prices

Vital Energy

31/01/2025 15:14

** S&P 500 energy index  .SPNY  falls ~2% as oil prices dip
    ** Brent crude futures  LCOc1  down 0.4% at $76.59 a barrel;
U.S. West Texas Intermediate (WTI) crude  CLc1  falls ~0.9% to
$72.08 a barrel
        ** U.S. oil majors Chevron  CVX.N  and Exxon  XOM.N 
report results, with 
    CVX
     missing Wall Street expectations and 
    XOM
     beating estimates, but both were hit by weakness in their
refining segment
  
        ** Shares for both companies were down 4.1% and 2.2%,
respectively 
  
        ** Prime Minister Justin Trudeau said Canada would
respond immediately with a series of forceful 
    countermeasures
     if U.S. President Donald Trump goes ahead with plans to
impose tariffs 
  
    ** Top losers in E&P sector are names such as Hess  HES.N ,
down 4.4%, Occidental  OXY.N , down ~4%, and Diamondback Energy
 FANG.O , down 3.3% 
    

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))