Energy, Oil Stocks Tick Higher After Trump Says Ceasefire With Iran Is Over
By Connor Hart
Energy stocks rose after President Trump said he believed his ceasefire deal with Iran was over and oil prices jumped.
Shares of Exxon Mobil were up 1.6%, to $143.93, in premarket trading Wednesday. Meanwhile, Chevron's and Conoco Phillips' stock each climbed 1.7%, to $177 and $110.30, respectively.
Shares of BP gained 1%, to $38.99. Occidental Petroleum's stock increased 2.6%, to $53, while shares of Diamondback Energy edged 2.3% higher, to $184.67.
Trump's comments came after another round of Iranian attacks on ships in the Strait of Hormuz. The remarks are a sign that diplomacy with Iran has stalled under the preliminary peace agreement he signed in mid-June, The Wall Street Journal reported.
Trump also tore into Iran's leadership. "They're liars, they're cheats, they're sick people," he told reporters at a NATO summit in Ankara on Wednesday.
"Now I'll let our wonderful negotiators keep talking if they want, but I don't see it."
Oil prices climbed after Trump's comments, with Brent crude futures about 5% higher at $73.93 a barrel.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
July 08, 2026 08:42 ET (12:42 GMT)
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