Energy stocks gain as US-China trade talks resume

ReutersJun 6, 2025 2:01 PM

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S&P 500 Energy index .SPNY up 1.8%, tracking a rise in oil prices O/R

Brent Crude futures LCOc1 up 1.7% at $66.43/barrel; U.S. West Texas Intermediate crude CLc1 rises 1.8% to $64.52/barrel

Crude prices rise after U.S. President Donald Trump and Chinese leader Xi Jinping resumed trade talks, raising hopes for growth and stronger demand in the world's two largest economies

Energy majors Chevron CVX.N and Exxon Mobil XOM.N both rise 1.7%

APA Corp APA.O, ConocoPhillips COP.N, Devon Energy DVN.N, Valero Energy VLO.N and EOG Resources EOG.N rise between 2.1% and 3.1%; among the top percentage gainers on the energy index

Oilfield services companies Baker Hughes BKR.O and Halliburton HAL.N gain 1.6% and 2.3%, respectively

Refiners: Marathon Petroleum MPC.N up 1.6% and Phillips 66 PSX.N rises 1.8%

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