Updates
** S&P 500 energy index up 1.7%, tracking prices of oil O/R
** Brent crude futures LCOc1 up 0.9% at $66.85/barrel and U.S. West Texas Intermediate crude CLc1 rises 1% to $63.75/ barrel
** Oil prices rise as equity markets rebound, though concerns persist over economic headwinds from tariffs and U.S. monetary policy that could dampen fuel demand
** Energy majors Exxon XOM.N and Chevron CVX.N up 2.3% and 1.9%, respectively
** Marathon Petroleum MPC.N, APA Corp APA.O, Targa Resources TRGP.N and Devon Energy DVN.N up between 2.4% and 4.8%; among top percentage gainers on the energy index
** Refiners Valero Energy VLO.N and Marathon Petroleum MPC.N up 2.6% and 2.9%, respectively
** Halliburton HAL.N falls 5.7% after it posted a lower Q1 profit earlier today, dragging down other oil field services stocks; SLB SLB.N and Patterson-UTI Energy PTEN.O down ~1%
(Reporting by Katha Kalia in Bengaluru)
((Katha.Kalia@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.