BUZZ-Oil stocks fall on rising US crude stockpiles, hawkish fed comments

Reuters
13 Feb
BUZZ-Oil stocks fall on rising US crude stockpiles, hawkish fed comments

** Shares of U.S. oil and gas companies fall, tracking declining oil prices O/R

** Brent Crude futures LCOc1 down 1.25% to $76.04/barrel and US West Texas CLc1 down 1.05% to $72.27/barrel, after data showed U.S. crude stockpiles rose by more than expected last week and hawkish remarks from the Federal Reserve chair

** Energy major Exxon Mobil XOM.N down 1.8%

** Oilfield services firms Halliburton HAL.N and SLB SLB.N down 0.7% each; Baker Hughes BKR.O down 1.16%

** Refiners Phillips 66 PSX.N down 1.2% and Valero Energy VLO.N down 1.5%

** Reuters reports Chevron CVX.N to lay off 15% to 20% of its global workforce, shares down 0.8% at $156.10

(Reporting by Katha Kalia)

((Katha.Kalia@thomsonreuters.com))

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