Exxon, Chevron, Other Oil Stocks Sink as Market Bets Iran War Will End -- Barrons.com

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Exxon, Chevron, Other Oil Stocks Sink as Market Bets Iran War Will End -- Barrons.com

Dow Jones05-06 18:47

By George Glover

Shares in Exxon Mobil and Chevron were tumbling Wednesday as oil prices slumped, with investors becoming more certain the U.S. and Iran are close to agreeing a peace deal.

Exxon dropped 3.9% and Chevron fell 3.7% ahead of the opening bell. Futures tracking the S&P 500 were 0.8% higher.

The selloff came after a report said the U.S. and Iran were nearing a peace agreement, sparking a sharp drop in oil prices in early trading. West Texas Intermediate U.S. futures slumped 9.2% to $92.90 a barrel.

The Trump administration believes it is close to agreeing with Tehran on a one-page memorandum of understanding that would end the war in the Middle East, Axios reported, citing two U.S. officials and two other sources briefed on the issue.

President Donald Trump said in a post on Truth Social late Tuesday that he would pause U.S. efforts to escort commercial ships through the Strait of Hormuz, because "Great Progress" has been made toward a truce.

Exxon and Chevron weren't the only oil stocks tumbling on Wednesday.

APA plunged 6.6%, ConocoPhillips slid 4.4%, Devon Energy fell 5.1%, and Diamondback Energy dropped 4.5% in premarket trading.

Occidental Petroleum slumped 6.3% after the oil-and-gas company reported a sharp surge in adjusted profit but weaker-than-expected net sales for the first quarter.

Write to George Glover at george.glover@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

May 06, 2026 06:47 ET (10:47 GMT)

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mark2012
·05-06 23:36
The only people who think it it will end are those that lap up the whitehouse propaganda, it is only beginning
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Futures tracking the S&amp;P 500 were 0.8% higher. \n</p>\n<p>\n  The selloff came after a report said the U.S. and Iran were nearing a peace agreement, sparking a sharp drop in oil prices in early trading. <a href=\"https://laohu8.com/S/WTXR\">West Texas</a> Intermediate U.S. futures slumped 9.2% to $92.90 a barrel. \n</p>\n<p>\n  The Trump administration believes it is close to agreeing with Tehran on a one-page memorandum of understanding that would end the war in the Middle East, Axios reported, citing two U.S. officials and two other sources briefed on the issue. \n</p>\n<p>\n  President Donald Trump said in a post on Truth Social late Tuesday that he would pause U.S. efforts to escort commercial ships through the Strait of Hormuz, because \"Great Progress\" has been made toward a truce. \n</p>\n<p>\n  Exxon and Chevron weren't the only oil stocks tumbling on Wednesday. \n</p>\n<p>\n  APA plunged 6.6%, ConocoPhillips slid 4.4%, Devon Energy fell 5.1%, and <a href=\"https://laohu8.com/S/FANG\">Diamondback Energy</a> dropped 4.5% in premarket trading. \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/OXY.WS\">Occidental Petroleum</a> slumped 6.3% after the oil-and-gas company reported a sharp surge in adjusted profit but weaker-than-expected net sales for the first quarter. \n</p>\n<p>\n  Write to George Glover at george.glover@dowjones.com \n</p>\n<p>\n   This content was created by Barron's, which is operated by Dow Jones &amp; Co. 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West Texas Intermediate U.S. futures slumped 9.2% to $92.90 a barrel. \n\n\n  The Trump administration believes it is close to agreeing with Tehran on a one-page memorandum of understanding that would end the war in the Middle East, Axios reported, citing two U.S. officials and two other sources briefed on the issue. \n\n\n  President Donald Trump said in a post on Truth Social late Tuesday that he would pause U.S. efforts to escort commercial ships through the Strait of Hormuz, because \"Great Progress\" has been made toward a truce. \n\n\n  Exxon and Chevron weren't the only oil stocks tumbling on Wednesday. \n\n\n  APA plunged 6.6%, ConocoPhillips slid 4.4%, Devon Energy fell 5.1%, and Diamondback Energy dropped 4.5% in premarket trading. \n\n\nOccidental Petroleum slumped 6.3% after the oil-and-gas company reported a sharp surge in adjusted profit but weaker-than-expected net sales for the first quarter. \n\n\n  Write to George Glover at george.glover@dowjones.com \n\n\n   This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 06, 2026 06:47 ET (10:47 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[{"id":561356698157240,"gmtCreate":1778081774966,"gmtModify":1778081778662,"author":{"id":"4217445003125362","authorId":"4217445003125362","name":"mark2012","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":12,"crmLevelSwitch":0,"wearingBadges":[{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","name":"Real Trader","description":"Completed a transaction","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","isScarce":0,"effectEnabled":0,"redirectLinkEnabled":0,"redirectLinkValidityFrom":0,"redirectLinkValidityTo":9223372036854776000}],"authorIdStr":"4217445003125362","idStr":"4217445003125362"},"htmlText":"The only people&nbsp; who think it it will end are those that lap up the whitehouse propaganda, it is only beginning","listText":"The only people&nbsp; who think it it will end are those that lap up the whitehouse propaganda, it is only beginning","text":"The only people who think it it will end are those that lap up the whitehouse propaganda, it is only beginning","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/561356698157240","repostId":2633518122,"repostType":2,"repost":{"id":"2633518122","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1778064420,"share":"https://ttm.financial/m/news/2633518122?lang=en_US&edition=fundamental","pubTime":"2026-05-06 18:47","market":"us","language":"en","title":"Exxon, Chevron, Other Oil Stocks Sink as Market Bets Iran War Will End -- Barrons.com","url":"https://stock-news.laohu8.com/highlight/detail?id=2633518122","media":"Dow Jones","summary":"Shares in Exxon Mobil and Chevron were tumbling Wednesday as oil prices slumped, with investors becoming more certain the U.S. and Iran are close to agreeing a peace deal.Exxon dropped 3.9% and Chevron fell 3.7% ahead of the opening bell. Futures tracking the S&P 500 were 0.8% higher.The selloff came after a report said the U.S. and Iran were nearing a peace agreement, sparking a sharp drop in oil prices in early trading. West Texas Intermediate U.S. futures slumped 9.2% to $92.90 a barrel.The Trump administration believes it is close to agreeing with Tehran on a one-page memorandum of understanding that would end the war in the Middle East, Axios reported, citing two U.S. officials and two other sources briefed on the issue.President Donald Trump said in a post on Truth Social late Tuesday that he would pause U.S. efforts to escort commercial ships through the Strait of Hormuz, because \"Great Progress\" has been made toward a truce.Exxon and Chevron weren't the only oil stocks tumbling","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By George Glover \n</p>\n<p>\n  Shares in <a href=\"https://laohu8.com/S/XOM\">Exxon</a> Mobil and Chevron were tumbling Wednesday as oil prices slumped, with investors becoming more certain the U.S. and Iran are close to agreeing a peace deal. \n</p>\n<p>\n  Exxon dropped 3.9% and Chevron fell 3.7% ahead of the opening bell. Futures tracking the S&amp;P 500 were 0.8% higher. \n</p>\n<p>\n  The selloff came after a report said the U.S. and Iran were nearing a peace agreement, sparking a sharp drop in oil prices in early trading. <a href=\"https://laohu8.com/S/WTXR\">West Texas</a> Intermediate U.S. futures slumped 9.2% to $92.90 a barrel. \n</p>\n<p>\n  The Trump administration believes it is close to agreeing with Tehran on a one-page memorandum of understanding that would end the war in the Middle East, Axios reported, citing two U.S. officials and two other sources briefed on the issue. \n</p>\n<p>\n  President Donald Trump said in a post on Truth Social late Tuesday that he would pause U.S. efforts to escort commercial ships through the Strait of Hormuz, because \"Great Progress\" has been made toward a truce. \n</p>\n<p>\n  Exxon and Chevron weren't the only oil stocks tumbling on Wednesday. \n</p>\n<p>\n  APA plunged 6.6%, ConocoPhillips slid 4.4%, Devon Energy fell 5.1%, and <a href=\"https://laohu8.com/S/FANG\">Diamondback Energy</a> dropped 4.5% in premarket trading. \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/OXY.WS\">Occidental Petroleum</a> slumped 6.3% after the oil-and-gas company reported a sharp surge in adjusted profit but weaker-than-expected net sales for the first quarter. \n</p>\n<p>\n  Write to George Glover at george.glover@dowjones.com \n</p>\n<p>\n   This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 06, 2026 06:47 ET (10:47 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Exxon, Chevron, Other Oil Stocks Sink as Market Bets Iran War Will End -- Barrons.com</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nExxon, Chevron, Other Oil Stocks Sink as Market Bets Iran War Will End -- Barrons.com\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-06 18:47</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By George Glover \n</p>\n<p>\n  Shares in <a href=\"https://laohu8.com/S/XOM\">Exxon</a> Mobil and Chevron were tumbling Wednesday as oil prices slumped, with investors becoming more certain the U.S. and Iran are close to agreeing a peace deal. \n</p>\n<p>\n  Exxon dropped 3.9% and Chevron fell 3.7% ahead of the opening bell. Futures tracking the S&amp;P 500 were 0.8% higher. \n</p>\n<p>\n  The selloff came after a report said the U.S. and Iran were nearing a peace agreement, sparking a sharp drop in oil prices in early trading. <a href=\"https://laohu8.com/S/WTXR\">West Texas</a> Intermediate U.S. futures slumped 9.2% to $92.90 a barrel. \n</p>\n<p>\n  The Trump administration believes it is close to agreeing with Tehran on a one-page memorandum of understanding that would end the war in the Middle East, Axios reported, citing two U.S. officials and two other sources briefed on the issue. \n</p>\n<p>\n  President Donald Trump said in a post on Truth Social late Tuesday that he would pause U.S. efforts to escort commercial ships through the Strait of Hormuz, because \"Great Progress\" has been made toward a truce. \n</p>\n<p>\n  Exxon and Chevron weren't the only oil stocks tumbling on Wednesday. \n</p>\n<p>\n  APA plunged 6.6%, ConocoPhillips slid 4.4%, Devon Energy fell 5.1%, and <a href=\"https://laohu8.com/S/FANG\">Diamondback Energy</a> dropped 4.5% in premarket trading. \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/OXY.WS\">Occidental Petroleum</a> slumped 6.3% after the oil-and-gas company reported a sharp surge in adjusted profit but weaker-than-expected net sales for the first quarter. \n</p>\n<p>\n  Write to George Glover at george.glover@dowjones.com \n</p>\n<p>\n   This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 06, 2026 06:47 ET (10:47 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IEO":"iShares Dow Jones U.S. Oil & Gas","LU0266512473.USD":"JPM GLOBAL NATURAL RESOURCES \"C\" (USD) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU1430597077.USD":"BGF NATURAL RESOURCES \"A\" (USD) INC","LU0345780950.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) ACC","ERX":"二倍做多能源ETF-Direxion","LU0612318971.USD":"BGF NATURAL RESOURCES \"A5G\" (USD) INC","LU0985489474.SGD":"First Eagle Amundi International AHS-C SGD-H","FTXN":"First Trust Nasdaq Oil & Gas ETF","PXJ":"Invesco Oil & Gas Services ETF","SG9999014559.SGD":"United Income Focus Trust Dis SGD","DRLL":"Strive U.S. Energy ETF","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","IXC":"全球能源业ETF-iShares","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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Bear 2X Shares"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2633518122","content_text":"By George Glover \n\n\n  Shares in Exxon Mobil and Chevron were tumbling Wednesday as oil prices slumped, with investors becoming more certain the U.S. and Iran are close to agreeing a peace deal. \n\n\n  Exxon dropped 3.9% and Chevron fell 3.7% ahead of the opening bell. Futures tracking the S&P 500 were 0.8% higher. \n\n\n  The selloff came after a report said the U.S. and Iran were nearing a peace agreement, sparking a sharp drop in oil prices in early trading. West Texas Intermediate U.S. futures slumped 9.2% to $92.90 a barrel. \n\n\n  The Trump administration believes it is close to agreeing with Tehran on a one-page memorandum of understanding that would end the war in the Middle East, Axios reported, citing two U.S. officials and two other sources briefed on the issue. \n\n\n  President Donald Trump said in a post on Truth Social late Tuesday that he would pause U.S. efforts to escort commercial ships through the Strait of Hormuz, because \"Great Progress\" has been made toward a truce. \n\n\n  Exxon and Chevron weren't the only oil stocks tumbling on Wednesday. \n\n\n  APA plunged 6.6%, ConocoPhillips slid 4.4%, Devon Energy fell 5.1%, and Diamondback Energy dropped 4.5% in premarket trading. \n\n\nOccidental Petroleum slumped 6.3% after the oil-and-gas company reported a sharp surge in adjusted profit but weaker-than-expected net sales for the first quarter. \n\n\n  Write to George Glover at george.glover@dowjones.com \n\n\n   This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 06, 2026 06:47 ET (10:47 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","news_type":1,"symbols_score_info":{"DRIP":0.7,"XOMZ":0.6,"PXJ":0.7,"XES":0.7,"IXC":0.7,"XOMO":0.6,"XOMX":0.6,"ERX":0.7,"DBC":0.7,"XOM":1.5,"CVX":1.5,"DRLL":0.7,"DIG":0.7,"IEO":0.7,"COP":0.9,"DBE":0.7,"VDE":0.7,"OXY":0.9,"FTXN":0.7,"GUSH":0.7,"USE":0.7,"FANG":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}