US energy stocks fall after Trump announces cancellation of strikes against Iran

PBF Energy

11/06/2026 18:50

** S&P 500 energy index .SPNY falls 0.8%, tracking declining oil prices O/R
** Brent crude futures LCOc1 down 3.8% at $89.74/barrel; U.S. West Texas Intermediate crude futures CLc1 falls 3.3% to $87.16/barrel
** U.S. President Donald Trump cancels planned strikes against Iran, hours after threatening more bombings and a desire to "take" oil export hub Kharg Island
** Energy majors Chevron CVX.N down ~1% and Exxon Mobil XOM.N falls 1.5%
** EQT Corp EQT.N, Devon Energy DVN.N, ConocoPhillips COP.N and APA Corp APA.O down between 2.7% and 3.5%; among top percentage losers on energy index
** Oilfield services companies Baker Hughes BKR.O and Halliburton HAL.N each down marginally
** Refiners Phillips 66 PSX.N down 1.2% and PBF Energy PBF.N falls ~2%

(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))