Energy stocks dip as crude slides on Middle East ceasefire prospects

Coterra Energy

25/03/2026 10:13

** Shares of U.S. energy companies fall premarket, tracking a decline in crude prices O/R

** Brent crude futures LCOc1 down 4.6% at $99.67/barrel; while U.S. West Texas Intermediate crude futures CLc1 fall 4.4% to $88.27 a barrel

** Crude prices decline after reports the U.S. had sent Iran a 15-point proposal aimed at ending the war in the Middle East, raising prospects of a ceasefire that could ease supply disruptions in the region

** Energy majors Exxon Mobil XOM.N and Chevron CVX.N down 0.8% and 0.7% respectively

** Oil and gas producers: Occidental Petroleum OXY.N, Devon Energy DVN.N, APA Corp APA.O and Coterra Energy CTRA.N decline between 1.1% and 2.1%

** Oilfield services companies SLB SLB.N and Halliburton HAL.N both down marginally

** Refiner Valero Energy VLO.N down ~1%

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))