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BUZZ-US energy sector rebounds as market resumes after holidays

ReutersJan 2, 2025 5:28 PM

** Shares of U.S. oil companies rise, tracking crude prices O/R

** Benchmark Brent crude LCOc1 up 2.4%, at $76.43 a barrel and U.S. WTI crude CLc1 up 2.7%, at $73.64 a barrel, as investors returned for the first trading day of the new year with an optimistic eye on China's economy and fuel demand after a pledge by President Xi Jinping to promote growth O/R

** Energy majors Exxon Mobil XOM.N up 0.3% and Chevron CVX.N up 1.9%

** Permian Resources PR.N up 3.8%, Devon Energy DVN.N up 3.1%, Halliburton HAL.N up 3%, PBF Energy PBF.N up 1.5% - among the top pct. gainers on the energy index

** Energy Information Administration data for the week ending Dec. 27 showed crude stocks down, while gasoline and distillate inventories rose sharply as demand weakened in the week

(Reporting by Seher Dareen in Bengaluru)

((Seher.Dareen@thomsonreuters.com;))

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