BUZZ-US energy stocks slide after Trump cancels attack on Iran to seek nuclear deal
XLE•Refiners also move lower
Refiners Marathon Petroleum MPC.N fell 1% and Valero Energy VLO.N was down 1.5%.
Oil majors and producers decline
Energy majors Exxon Mobil XOM.N and Chevron CVX.N fell 1.55% and 1.3%, respectively.
Oil producers Diamondback Energy FANG.O slipped 1.5%, Occidental Petroleum OXY.N was down 1.6%, APA Corp APA.O fell 2.2% and Devon Energy DVN.N slid 2.5%.
Energy stocks fall as crude prices drop
Shares of U.S. energy companies fell premarket, tracking a decline in crude prices.
- Brent crude futures LCOc1 fell 4.46% to $84.02/barrel, while U.S. West Texas Intermediate CLc1 was down 5.30% at $80.20/barrel.
- Prices fell after U.S. President Donald Trump held off a fresh attack on Iran as he sought a quick deal that would halt Tehran's nuclear ambitions and reopen the Strait of Hormuz.
