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Energy companies fall as crude prices drop amid supply concerns and Venezuelan uncertainty

ReutersJan 6, 2026 6:29 PM

S&P 500 Energy index .SPNY down 2.2%, tracking falling crude prices O/R

Brent crude futures LCOc1 down 0.4% at $61.51/barrel, and U.S. West Texas Intermediate crude CLC1 falls 0.6% to $58/barrel

Crude prices fall as market weighs expectations of ample global supply this year against uncertainty around Venezuelan crude supplies after the U.S. capture of the country's leader

Oil majors Exxon XOM.N and Chevron CVX.N down ~2% and 4.2% respectively

ConocoPhillips COP.N falls 1.2%, Diamondback Energy FANG.O down 2%, and APA Corp APA.O slips 2.1%

Oilfield services companies Halliburton HAL.N down 3.3% and ProPetro Holding PUMP.N falls 4%

Refiners PBF Energy PBF.N and Marathon Petroleum MPC.N down 3.1% and 1.6% respectively

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