Energy firms down as oil falls to over 4-year low as Trump's tariffs take effect

U.S. energy firms fall premarket as oil prices edge lower

Brent crude futures LCOc1 down 4.8% at $59.82 a barrel; U.S. West Texas Intermediate (WTI) crude CLc1 falls 5% to $56.60 a barrel

Brent prices briefly fell below $60 a barrel mark during trade, its lowest since February 2021, after U.S. President Donald Trump's "reciprocal" tariffs took effect, including a 104% duty on Chinese goods, intensifying a global trade war

Oil majors Chevron CVX.N and Exxon Mobil XOM.N down 1.5% and 1.3%, respectively

Devon Energy DVN.N down 2.4%, APA APA.O falls 3% and Diamondback Energy FANG.O slides 3.4%

Refiners Marathon Petroleum MPC.N and Valero Energy VLO.N down 1.5% and 2.3%, respectively

Oilfield equipment and services operators Baker Hughes BKR.O and Halliburton HAL.N slip 2.8% and 2.2%, respectively