Oil firms fall as Iran-Oman talks revive hopes of Hormuz reopening

Halliburton

26/08/2026 13:37

** U.S.-listed shares of energy companies fall premarket, after talks between Iran and Oman revived hopes that the Strait of Hormuz could reopen and remove shipping constraints affecting supply in the key Middle East region
** Benchmark Brent crude LCOc1 down 3.08% to $85.85 per barrel and U.S. WTI crude CLc1 down 2.68% at $80.15 a barrel
** Both benchmarks fell to their lowest levels since August 10 earlier in the session
** Oil and gas majors ExxonMobil XOM.N and Chevron CVX.N fall ~2% and 0.9%, respectively
** Occidental Petroleum OXY.N drops 1.1% and Halliburton HAL.N was down 1.3%
** Shares of refiners Marathon Petroleum MPC.N, Phillips 66 PSX.N and PBF Energy PBF.N down between 1.1% and 2%

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))