US energy stocks fall as crude drops on talks over stock releases
XLE•U.S.-listed energy shares fell premarket as Brent crude dropped 2.2% to $100.08 a barrel and U.S. West Texas Intermediate fell 3.4% to $89.40. The declines followed reports of talks on additional diesel and crude stock releases.
1. Energy shares decline
ExxonMobil and Chevron each fell about 1% premarket. Occidental Petroleum was down 1.2%, and ConocoPhillips dipped 1.1%.
2. Oil prices slide
Halliburton fell about 1% and SLB declined 1.7%, while Marathon Petroleum and Phillips 66 dropped 1.6% and 1.5%, respectively. Brent was down about 4.1% for the week so far, and WTI was lower by around 3.2%.
