US energy stocks fall as easing US-Iran tensions weigh on oil
XLE•US energy shares fell premarket as oil prices declined: Brent was down 1.3% at $115.10 a barrel and West Texas Intermediate fell 2.1% to $101.20.
1. Energy shares decline
Exxon and Chevron fell 1.2% and about 1%, respectively, while Occidental Petroleum and ConocoPhillips dipped 1.4% and 1.3%. Refiners Marathon Petroleum and Valero Energy fell 2.9% and about 1%. Oil prices retreated after surging last week but remained near six-month highs as hopes of easing US-Iran hostilities were tempered by persistent attacks on Saudi Arabia.
