US energy stocks slip as oil prices fall on US-Iran peace proposal

Marathon Petroleum

06/04/2026 11:02

** Shares of U.S. energy companies fall premarket, tracking a decline in crude prices O/R

** Brent crude futures LCOc1 down 1.4% at $107.61/barrel; U.S. West Texas Intermediate CLc1 falls 1.1% to $110.33/barrel

** Crude prices fall as investors await clarity on the status of talks between the U.S. and Iran, and remain wary about sustained supply losses due to shipping disruptions

** Energy majors Exxon Mobil XOM.N and Chevron CVX.N down 1.7% and 1%, respectively

** Oil and gas producers Occidental Petroleum OXY.N, Devon Energy DVN.N, Diamondback Energy FANG.O and ConocoPhillips COP.N decline between 1.9% and 2.3%

** Oilfield services companies Baker Hughes BKR.O and SLB SLB.N down 0.7% each

** Refiners Marathon Petroleum MPC.N and Phillips 66 PSX.N decline 2.4% and 1.3%, respectively

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))