US energy firms fall as markets weigh economic concerns, supply and demand expectations

S&P 500 energy index .SPNY falls 0.2% as oil prices dip O/R

Brent crude futures LCOc1 down 0.6% at $70.45/barrel; U.S. West Texas Intermediate crude futures CLc1 down 0.8% at $67.10/barrel

Oil slipped on larger-than-expected draw in U.S. gasoline stocks, as markets weighed macroeconomic concerns and demand versus supply expectations

U.S. gasoline inventories fell 5.7 million barrels, more than 1.9 million-barrel draw expected by analysts

Trump's focus on tariffs has rattled investors, consumers and business confidence and, along with sharp government spending cuts, threatened labour market stability and raised U.S. recession fears

Global oil supply could exceed demand by around 600,000 barrels per day this year, International Energy Agency says, revising down its 2025 demand growth forecast

Top oil major Exxon Mobil XOM.N down marginally

EOG Resources EOG.N, APA Corp APA.O, Devon Energy DVN.N and Texas Pacific Land TPL.N down between 1.2% and 2.3%; among top percentage losers on energy index

Oilfield services companies Patterson-UTI Energy PTEN.O down 1.9% and Liberty Energy LBRT.N down 2.2%