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

Reuters
06-04
BUZZ-Energy companies down after US data shows large builds in fuel stocks

** S&P 500 energy index .SPNY down 1.1%, tracking a dip in oil prices O/R

** Brent crude futures LCOc1 falls 1.6% to $64.57/barrel, while U.S. West Texas Intermediate crude CLc1 down 1.4% at $62.52/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

** Both energy majors Chevron CVX.N and Exxon XOM.N down ~1%

** Valero Energy VLO.N, Marathon Petroleum MPC.N, Phillips 66 PSX.N and Diamondback Energy FANG.O decline between 2.8% and 1.4%; among the top percentage losers on the energy index

** Oilfield services companies: Halliburton HAL.N down marginally and SLB SLB.N dips 1.1%

** Refiner HF Sinclair falls 2.2%

(Reporting by Sumit Saha in Bengaluru)

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

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