BUZZ-US energy sector falls on soft Chinese spending

Reuters
2024-12-17
BUZZ-US energy sector falls on soft Chinese spending

** S&P 500 energy index .SPNY down 1.6%, as oil prices ease from the highest levels in several weeks O/R

** Brent crude futures LCOc1 down 1% at $73.77/barrel; U.S. West Texas Intermediate crude futures CLc1 down 1.04% at $70.55/barrel

** Oil prices down on weakness in consumer spending in China, world's largest oil importer; also, investors paused buying ahead of the U.S. Federal Reserve's interest rate decision

** Top oil and gas companies Exxon Mobil XOM.N and Chevron CVX.N down 1.5% and 2.1%, respectively

** APA Corp APA.O down 4.1%, Phillips 66 PSX.N down 3.8% and Devon Energy DVN.N down 2.9%; among top pct losers on the energy index

** Oilfield services firm Halliburton HAL.N down 1.5%

** Refiners PBF Energy PBF.N down 4.8% and HF Sinclair DINO.N down 3.7%

** Phillips 66 to sell its 25% stake in the Gulf Coast Express Pipeline to ArcLight Capital Partners for about $865 mln

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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