Shares of energy companies fell amid skepticism ahead of earnings.
Occidental Petroleum agreed to sell Delaware Basin assets in Texas and New Mexico to Permian Resources Corp. PR for about $818 million.
Exxon Mobil and Chevron declined ahead of earnings, as the energy industry group looked set to be one of the laggards during second-quarter earnings season for the S&P 500.
"It looks like the shortfall is all coming from refining and marketing area," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management, saying a drop in diesel and heating oil demand in the spring is likely to weigh.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-29-24 1726ET
