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Energy stocks down as Trump asks "everyone" to keep oil prices down, Mideast tensions weigh

ReutersJun 23, 2025 2:54 PM

S&P 500 energy index .SPNY down 0.4%, tracking a dip in crude prices O/R

Brent crude futures LCOc1 fall over 1% to $76.14/barrel; U.S. West Texas Intermediate crude futures CLc1 down 1.2% at $72.94/barrel

Crude prices slipped over $1 a barrel, as oil and gas transit continued on tankers from the Middle East after U.S. airstrikes against Iran at the weekend

Although analysts say prices could spike in the near-term, investors are still weighing the extent of the geopolitical risk premium, given the Middle East crisis has yet to crimp supply

Additionally, U.S. President Donald Trump on Monday expressed a desire to see oil prices kept down amid fears that ongoing fighting in the Middle East could cause them to spike

Oil major Exxon Mobil XOM.N falls marginally

Diamondback Energy FANG.O,APA Corp APA.O, Halliburton HAL.N and Devon Energy DVN.N decline between 2% and 4.2%; among the top percentage losers on the energy index

Oilfield services firms SLB SLB.N and Baker Hughes BKR.O down 1.6% and 1%, respectively

Refiner PBF Energy PBF.N dips 1.2%

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