Energy stocks dip as crude falls on report Iran may allow Europe to clear Hormuz mines

Diamondback Energy

04/08/2026 17:10

** S&P 500 energy index .SPNY falls 0.7% as oil prices decline O/R
** Crude prices extend losses after report says Iran is considering allowing Europe to clear mines in the Strait of Hormuz
** Brent crude futures LCOc1 fall 5.6% to $79.07/barrel; U.S. West Texas Intermediate CLc1 down 5.9% at $75.56/barrel
** Diamondback Energy FANG.O, APA Corp APA.O, Expand Energy EXE.O and EQT Corp EQT.N fall between 2% and 3.4%, among the top percentage losers on the energy index  
** Energy majors Exxon XOM.N and Chevron CVX.N down 1.3% each   
** Refiners Phillips 66 PSX.N down 0.9% and HF Sinclair DINO.N down 1.2%

 (Reporting by Katha Kalia in Bengaluru)
 ((katha.kalia@thomsonreuters.com))