US energy firms fall as oil slides after Trump delays Iran power grid attack

Shares of U.S. oil and gas companies decline as oil plunges after President Donald Trump postpones strikes on Iranian power plants

Trump postpones strikes against Iranian power plants for five days after constructive talks, hours ahead of a deadline that threatened further escalation in the conflict O/R

Brent crude futures LCOc1 down 8.4% at $102.76/bbl, slumped as much as 14.5% to a session low of $96/bbl

U.S. West Texas Intermediate CLc1 drops 7.9% at $90.69/bbl after losing 14.2% to a session low of $84.37/bbl

"While the latest pullback reflects easing immediate fears, the overall risk environment remains elevated, limiting the scope for a sustained decline" - Abdelaziz Albogdady, market research & fintech strategy manager at FXEM

Shares oil majors Exxon Mobil XOM.N and Chevron CVX.N were down 1.6% and 1% respectively after each rose about 30% YTD

Oil and gas producers ConocoPhillips COP.N, Devon Energy DVN.N, EQT EQT.N, Coterra Energy CTRA.N and Occidental Petroleum OXY.N decline between 1.2% and 2%