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BUZZ-Energy stocks dip as crude heads for weekly loss on supply concerns

Reuters
Sep 05
BUZZ-Energy stocks dip as crude heads for weekly loss on supply concerns

** S&P 500 Energy index .SPNY down 1.2%, tracking a dip in crude prices O/R

** Brent crude futures LCOc1 down 2.1% at $65.54/barrel, while West Texas Intermediate $(WTI)$ crude futures CLc1 down 2.4% at $61.98/barrel

** Crude prices decline, heading for a weekly loss for the first time in three weeks, as expectations grow of higher supply and a surprise increase in U.S. crude inventories added to demand concerns

** Energy majors Exxon Mobil XOM.N fall 1.5% and Chevron CVX.N down ~1.3%

** ONEOK OKE.N, Targa Resources TRGP.N, EOG Resources EOG.N and ConocoPhillips COP.N decline between 2% and 2.6%; among the top percentage losers on the energy index

** Oilfield services company Halliburton HAL.N and Baker Hughes BKR.O each down marginally

(Reporting by Sumit Saha in Bengaluru)

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

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