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BUZZ-Energy companies gain as crude prices rises after OPEC+ hikes output less than expected

Reuters
Oct 06
BUZZ-Energy companies gain as crude prices rises after OPEC+ hikes output less than expected

** S&P 500 Energy index .SPNY up 0.5%, tracking higher crude prices O/R

** Brent crude LCOc1 up 1.1% at $65.24/barrel; U.S. West Texas Intermediate crude futures CLc1 up 1% at $61.47/barrel

** Oil prices rise after OPEC+'s planned production increase for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains

** Energy major Exxon Mobil XOM.N up marginally

** APA Corp APA.O, Baker Hughes BKR.O, Diamondback Energy FANG.O, and Expand Energy EXE.O are up between 1.4% and ~2%, among top percentage gainers on the energy index

** Separately, Chart Industries GTLS.N shareholders approve acquisition by BKR

** Refiner Valero Energy VLO.N up 1.1%

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))

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