Energy Stocks Slump Amid Iran Strike Pause

Energy stocks fell on Monday as oil prices plummeted following the pause in strikes between the U.S. and Iran over the weekend.

The S&P 500 energy index dropped by 1.5% as crude oil prices hit a one-week low, with Brent crude declining 6.9% to $90.03 per barrel and WTI crude falling 6.4% to $83.51 per barrel.

Pipeline operators suffered significant losses, with ONEOK, Kinder Morgan, Williams Companies, and Targa Resources each dropping between 2.4% and 2.9%.

Energy majors Exxon Mobil and Chevron also declined by 1.4% and 1.7%, respectively.