US energy firms fall as oil slumps to over 4-year low

U.S. energy firms fall premarket as oil prices fell to an over-four-year low

Brent crude futures LCOc1 down 5.1% at $59.58 a barrel; U.S. West Texas Intermediate (WTI) crude CLc1 falls 5.4% to $56.34 a barrel

Brent prices fell below $60 a barrel mark during trade, its lowest since February 2021, as China announced additional tariffs on U.S. goods, retaliating to President Donald Trump's reciprocal tariffs which came into effect on Wednesday

Oil majors Chevron CVX.N and Exxon Mobil XOM.N down over 2%

Devon Energy DVN.N down 2.9% and Diamondback Energy FANG.O slides 3%

Refiners Marathon Petroleum MPC.N and Valero Energy VLO.N down 1.7% and 2.7%, respectively

Oilfield equipment and services operators Baker Hughes BKR.O and Halliburton HAL.N slip 3.5% and 3.4%, respectively