Energy Stocks Jump as Trump Ends Iran Ceasefire, Lifting U.S. Oil Prices
Updated
Updated · CNBC · Jul 8
Energy Stocks Jump as Trump Ends Iran Ceasefire, Lifting U.S. Oil Prices
3 articles · Updated · CNBC · Jul 8
Summary
Diamondback Energy rose more than 3% in premarket trading, with APA and Occidental up over 2.5%, after Trump said the ceasefire with Iran was over and U.S. oil prices surged.
Chevron gained more than 2% and Exxon Mobil 1.5% as traders rotated into oil producers while higher fuel costs hit travel names.
Carnival fell 3.5%, Norwegian Cruise Line 3% and United Airlines 3%, reflecting pressure on companies most exposed to rising jet fuel and shipping costs.
Elsewhere, weakness persisted in other sectors: Sandisk dropped more than 5.5%, Bath & Body Works fell over 4% after a Goldman downgrade, and Rivian slid nearly 4% after Tuesday's 18% offering-driven selloff.