US energy shares drop, track falling crude prices

Coterra Energy

14/04/2026 16:42

** Shares of U.S. energy firms drop on Tues as crude oil prices fall on hopes for additional Middle East talks

** Oil prices retreat as signs of a possible resumption in talks to end the U.S.-Israeli war on Iran eased supply concerns stemming from Strait of Hormuz blockade O/R

** Brent crude futures LCOc1 down 3% to $96.41/barrel and U.S. West Texas Intermediate crude CLc1 off 5.3% at $93.77 as of 11:30 a.m. EDT

** S&P 500 energy index .SPNY down ~2% with all 22 components in the red on the session

** Oil majors Exxon Mobil XOM.N and Chevron CVX.N both down ~2.5%

** Oilfield services firms slide: Baker Hughes BKR.O 1%, Halliburton HAL.N 2%, SLB SLB.N off fractionally

** Refiners down: Valero VLO.N 1.7%, Marathon Petroleum MPC.N 0.4%

** Oil and gas producers descend: Occidental Petroleum OXY.N 4.5%, Devon Energy DVN.N 4.3%, ConocoPhillips COP.N 3.6%, APA Corp APA.O 5.6%, Coterra Energy CTRA.N 4%, Diamondback Energy FANG.O 1.6%

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))