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Oil Stocks Drop as Iran Has Sent Its Latest Proposal to US Via Pakistani Mediators

TigerMay 1, 2026 2:13 PM

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Iran sent its latest proposal for negotiations with the United States to Pakistani mediators on Thursday, state news agency IRNA reported on Friday.

Oil stocks dropped in morning trading. United States Oil Fund LP, Occidental, ProShares Ultra Bloomberg Crude Oil, and Apache fell 4%; Valero, Cheniere, Devon, United States Brent Oil Fund LP, Phillips 66, BP, Spdr S&P Oil & Gas Exploration & Production Etf, EOG Resources, and Marathon Petroleum fell 3%; Woodside Energy, ConocoPhillips, Halliburton, Exxon Mobil, and Shell fell 2%; Chevron and SLB fell 1%.

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