Oil companies dip as crude hits 11-day low on hopes of US-Iran diplomacy, Saudi exports

S&P 500 energy index .SPNY was down 1.9%, tracking the dip in crude prices.

Oil prices slid to an 11-day low as investors pinned hopes on diplomatic progress over the Iran war due to this week's UN meeting, and eyed a partial recovery in shipments from Saudi Arabia.

Brent crude futures LCOc1 were down 3.3% at $100.6/barrel, while U.S. West Texas Intermediate crude CLc1 was down 4% at $96.28/barrel.

Energy majors Exxon Mobil XOM.N and Chevron CVX.N were down 2.7% and 1.8%, respectively.

Occidental Petroleum OXY.N, ConocoPhillips COP.N, Diamondback Energy FANG.O, and Halliburton Company HAL.N were down between 2.3% and 3%, among the top percentage losers on the energy index.

Oilfield services company SLB SLB.N was down 0.9%.