US energy firms fall as oil slides after Trump delays Iran power grid attack

Coterra Energy

23/03/2026 13:52

Updates

** Shares of U.S. oil and gas companies decline as oil plunges after President Donald Trump postpones strikes on Iranian power plants

** Trump postpones strikes against Iranian power plants for five days after constructive talks, hours ahead of a deadline that threatened further escalation in the conflict O/R

** Brent crude futures LCOc1 down 8.4% at $102.76/bbl, slumped as much as 14.5% to a session low of $96/bbl

     ** U.S. West Texas Intermediate CLc1 drops 7.9% at $90.69/bbl after losing 14.2% to a session low of $84.37/bbl

** "While the latest pullback reflects easing immediate fears, the overall risk environment remains elevated, limiting the scope for a sustained decline" - Abdelaziz Albogdady, market research & fintech strategy manager at FXEM

** Shares oil majors Exxon Mobil XOM.N and Chevron CVX.N were down 1.6% and 1% respectively after each rose about 30% YTD

** Oil and gas producers ConocoPhillips COP.N, Devon Energy DVN.N, EQT EQT.N, Coterra Energy CTRA.N and Occidental Petroleum OXY.N decline between 1.2% and 2%

 (Reporting by Pooja Menon and Arunima Kumar in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com;))