Energy firms rise after Trump's re-election sends US dollar higher
Updates
** Shares of oil and gas firms rise premarket as theU.S. dollar rallies on Donald Trump's election as president
** Top oil and gas cos Exxon Mobil XOM.N andChevron CVX.N up 2.3% and 2.6%, respectively
** Occidental Petroleum OXY.N, EQT EQT.N and Diamondback Energy FANG.O rise between 2.1% and 3.2%
** Oilfield equipment and services operators Baker Hughes BKR.O and SLB SLB.N up 7.3% and 5.3%, respectively
** Phillips 66 PSX.N rises 3.4%, Valero Energy VLO.N up 2.7% and Marathon Petroleum MPC.N gains 3.3%
** Trump has stated his intention to expand production and keep prices down for consumers by rolling back green regulations that hinder oil and gas drilling
** Oil prices, however, dropped as a Trump win sent U.S. dollar higher; Brent crude futures LCOc1 down 2.6% at $73.54/barrel and U.S. West Texas Intermediate crude futures CLc1 down 2.8%at $70/barrel
Reporting by Mrinalika Roy and Pooja Menon in Bengaluru
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