Oil companies falls after IEA cuts demand forecast

S&P 500 energy index .SPNY down 2.2%, tracking decline in crude prices O/R

Brent crude futures LCOc1 down 2.9% at $67.37/barrel, U.S. West Texas Intermediate crude futures CLc1 falls 2.99% to $62.70/barrel

Oil prices down after investors gave more weight to International Energy Agency lowering its global oil demand forecast for 2026 against receding risk of U.S. attacks on Iran

"It just ran out of steam," says Phil Flynn, senior analyst with the Price Futures Group

"The market's doubling down on the lowering demand forecast"

Top oil and gas firms Exxon XOM.N slips 2.6% and Chevron CVX.N down 1.8%

Valero Energy Corp VLO.N, Occidental Petroleum OXY.N Diamondback Energy FANG.O and Devon Energy Corp DVN.N down between 6.1% and 3.4%, among top percentage losers on energy index

Oilfield services company Baker Hughes BKR.O slips marginally and its peer Halliburton HAL.N down 3.5%

Refiners: Phillips 66 PSX.N down 2.6% and Marathon Petroleum MPC.N falls 4%