Oil companies fall as potential US-Iran nuclear deal stoke oversupply concerns

U.S.-listed shares of oil companies fall premarket, with crude prices dipping by more than $2/bbl

Crude prices decline on expectations for a U.S.-Iran nuclear deal that could result in sanctions easing, while a surprise build in U.S. crude oil inventories last week heightened investor concerns about oversupply O/R

Brent Crude futures LCOc1 down 3.86% at $63.54/barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 slips 4.12% to $60.55/barrel

Energy majors Chevron CVX.N and Exxon XOM.N fall 1.4% and 1.5%, respectively

Oil and gas producers ConocoPhillips COP.N, Occidental Petroleum OXY.N, APA Corp APA.O and Devon Energy DVN.N decline between 2% and 3%

Top oilfield service companies Halliburton HAL.N and SLB SLB.N each down ~2%

So far this year, WTI crude has fallen about 12%, while Brent is down 11.5%