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Oil firms fall as Moody's downgrades US credit rating, slow growth in China

ReutersMay 19, 2025 2:13 PM

S&P 500 energy index .SPNY down 2.2%, tracking prices of oil O/R

Brent crude futures LCOc1 down 0.2% at $65.27/barrel, U.S. West Texas Intermediate crude CLc1 fall 0.1%, to $62.45/barrel

Oil prices fell after Moody's downgraded the U.S. sovereign credit rating and official data showed slowing growth in China's industrial output and retail sales

Energy majors Chevron CVX.N and Exxon XOM.N down 1.9% each

Devon Energy DVN.N, SLB SLB.N, Occidental Petroleum OXY.N and APA Corp APA.O down between 2.5% and 3.2%; among top percentage losers on the energy index

Oilfield service company Halliburton HAL.N slip 1.8%

Refiners Valero Energy VLO.N and Phillips 66 PSX.N down 0.7% and 0.8% respectively

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