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Energy stocks fall after bearish US government report on crude supplies

ReutersMay 21, 2025 7:03 PM

S&P 500 energy index .SPNY down 1.1%, tracking a fall in oil prices O/R

Brent crude futures LCOc1 down 0.8% at $64.87/barrel; U.S. West Texas Intermediate crude futures CLc1 down 0.9% at $61.49/barrel

Oil prices dipped after the U.S. government released bearish data on crude and fuel supplies ahead of the U.S. summer driving season, a period of higher demand

Top oil and gas majors: Exxon Mobil XOM.N down marginally, and Chevron CVX.N down ~1%

ConocoPhillips COP.N, APA Corp APA.O, Valero Energy VLO.N and Phillips 66 PSX.N down between 1.9% and 5.9%; among the top percentage losers on the energy index

Oilfield services companies SLB SLB.N and Halliburton HAL.N down 1.5% and 2.2%, respectively

Refiner HF Sinclair DINO.N down 2.2%

Phillips 66 and activist investor Elliott Investment Management each won two seats on the oil refiner's board at an annual shareholders meeting on Wednesday, capping one of the biggest corporate boardroom battles of the year

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