June 12, 2019 / 3:57 PM / 4 months ago

BUZZ-Oil stocks fall on surprise rise in U.S inventories, demand concerns

** Shares of U.S. and Canadian oil companies fall, weighed down by a surprise rise in U.S. crude inventories and a weaker outlook for global oil demand

** Brent crude futures down 2.2% at $60.93 per barrel; U.S. futures down 2.6% at $51.88 per barrel

** U.S. crude inventories unexpectedly rose by 4.9 mln barrels in the week ended June 7 to 482.8 mln barrels, compared with analysts’ expectations for a decrease of 481,000 barrels -API data

** Both Chevron Corp and Exxon Mobil Corp down 0.7%

** Noble Energy falls about ~3.8%; Apache Corp , Concho Resources, Devon Energy, Cimarex Energy among top losers on the S&P 500 Energy Index ; their shares down ~3%

** Canadian Natural Resources down 1.8% while Cenovus Energy down ~1%

Reporting by Shradha Singh in Bengaluru

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