US energy stocks slide after Trump cancels attack on Iran to seek nuclear deal

Diamondback Energy

03/08/2026 10:31

** Shares of U.S. energy companies fall premarket, tracking a decline in crude prices O/R
** Brent crude futures LCOc1 fell 4.46% to $84.02/barrel, while U.S. West Texas Intermediate CLc1 was down 5.30% at $80.20/barrel  
** Prices fall after U.S. President Donald Trump held off a fresh attack on Iran as he sought a quick deal that would halt Tehran's nuclear ambitions and reopen the Strait of Hormuz
** Energy majors Exxon Mobil XOM.N and Chevron CVX.N fall 1.55% and 1.3%, respectively
** Oil producers Diamondback Energy FANG.O slips 1.5%, Occidental Petroleum OXY.N down 1.6%, APA Corp APA.O falls 2.2% and Devon Energy DVN.N slides 2.5%
** Refiners Marathon Petroleum MPC.N down 1% and Valero Energy VLO.N falls 1.5% 

(Reporting by Varun Sahay in Bengaluru)
((Varun.sahay@thomsonreuters.com))