BUZZ-U.S. energy shares hit by rising virus cases in China

U.S.-listed energy shares fall, mirroring weakness in oil prices

  

** U.S.-listed energy shares fall, mirroring weakness in oil prices as rising coronavirus cases in large oil importer China hit hopes of a quicker recovery in global energy demand

** West Texas Intermediate futures slide 4.1% to $65.46, hurt by oil demand fears around new restrictions in Asia, especially China 

** "While the number of cases is low, it comes just as the summer travel season peaks," writes Daniel Hynes, senior commodity strategist at ANZ

** Oil major ExxonMobil Corp down 1.2% premarket, while peer Chevron Corp slides 1.3%

** Oilfield service provider TechnipFMC Plc down 0.9%, while Halliburton Co  drops 2%

** Refiner Marathon Petroleum Corp 1.1% lower; Phillips 66 slips 0.5%

** Diamondback Energy Inc slips 2.9%, as does Apache Corp; Marathon Oil Corp drops 2.8%, Conocophillips is down 1.6%

** Oil producer Callon Petroleum Co, Devon Energy Corp, and shale-focused player Occidental Petroleum Corp on track to see between 2.9% and 4.8% shaved off their market values at market open

** Globally, oil stocks have broadly benefited as crude oil has added more than 30% in value this year

(Reporting by Aaron Saldanha in Bengaluru) ((Aaron.Saldanha@thomsonreuters.com; +91 80 6182 2844))


More From Markets