Shares of energy companies fell alongside oil futures amid hopes of a peace deal in the Middle East.
Oil initially surged after reports that Iran's supreme leader wants its uranium to remain in the country. That could be a major sticking point for any peace deal because President Donald Trump has repeatedly said that Iran cannot have a nuclear weapon. Oil slipped 1.9% to $96.35 a barrel in New York, but the globally traded Brent contract held above $102 a barrel.
The world has been losing an estimated 14 million barrels of Persian Gulf crude supply every day of the Iran war, or about 400 million barrels a month, said Pavel Molchanov, investment-strategy analyst at Raymond James, as reported earlier.
Exxon Mobil is striking back at two proxy advisory firms opposed to the company's plan to move its legal home to Texas from New Jersey.
Write to Rob Curran at rob.curran@dowjones.com
