US energy sector falls after refinery outage
** S&P 500 Energy Index .SPNY declines 1.1%, tracking falling crude prices O/R
** Brent crude LCOc1 down 0.5% at $89.99/bbl and U.S. West Texas Intermediate crude CLc1 down 0.9% at $85.35/bbl, after a major U.S. refinery outage and as sticky inflation dampened hopes for near-term U.S. interest rate cuts
** Prolonged refinery outages typically dampen crude oil demand and drive more crude oil into inventories
** Energy majors Exxon Mobil XOM.N and Chevron CVX.N drop 1.3% and 1.6%, respectively
** Shares of Hess HES.N, Devon Energy DVN.N, EQT Corp EQT.N, EOG Resources EOG.N, Marathon Oil MRO.N, Coterra Energy CTRA.N and APA Corp APA.O, are among the top pct. losers on the energy index, down between 1.6% and 2.3%
Reporting by Vallari Srivastava in Bengaluru
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