Energy companies down as demand fears overshadow US Fed rate cut

S&P 500 energy index .SPNY down 0.8% as oil prices edge lower O/R

Brent crude LCOc1 down ~0.5% at $67.13/barrel and U.S. West Texas Intermediate (WTI) crude futures CLc1 down 0.6% at $63.16/barrel

Oil prices drop as worries over fuel demand outweighed expectations that the year's first interest rate cut by the U.S. Federal Reserve would trigger more consumption

The Fed cut its policy rate by a quarter of a percentage point on Wednesday and indicated that more cuts would follow as it responded to signs of weakness in the jobs market

Top oil and gas companies Exxon Mobil XOM.N down marginally and Chevron CVX.N down 1.1%

Targa Resources TRGP.N, Baker Hughes BKR.O, Devon Energy DVN.N and ONEOK OKE.N fall between 1.6% and 2%; among biggest pct losers on the energy index

Refiners Phillips 66 PSX.N down 1% and Marathon Petroleum MPC.N down marginally

Oilfield services companies SLB SLB.N down 1.4% and Liberty Energy LBRT.N down ~2%