Oil stocks fall as US-Iran talks progress amid more market stress

Shares of oil and gas companies fall tracking declining crude prices O/R

Brent crude LCOc1 down 2.3% at $66.36/bbl and U.S. WTI crude CLc1 down 2.3% at $63.14/bbl, hurt by signs of progress in talks between U.S. and Iran, while investors were concerned about economic headwinds from tariffs, which could curb fuel demand

In talks, U.S. and Iran agreed to begin drawing up framework for potential nuclear deal, Iran's foreign minister said, after discussions that U.S. official described as yielding "very good progress"

Energy majors Exxon Mobil XOM.N and Chevron CVX.N fall 1.9% and 1.8%, respectively

Shares of Hess HES.N and EQT EQT.N down about 2.5%, Diamondback Energy FANG.O slips 3.9% and APA Corp APA.O slides nearly 5%

Oilfield services providers Baker Hughes BKR.O Halliburton HAL.N and SLB SLB.N down between 2.3% and 2.9%

Refiners Valero Energy VLO.N, Phillips 66 PSX.N, HF Sinclair DINO.N and Marathon Petroleum MPC.N fall between 2.2% and 2.9%; PBF Energy PBF.N drops 3.9%