US Stock Market Moves | Brent Crude Oil Futures Fall Over 3%, Oil Stocks Decline Across the Board in Pre-market Trading

Zhitong Finance APP has learned that on Tuesday, oil stocks fell broadly in pre-market trading. Petrobras (PBR.US) dropped over 3%, while Occidental Petroleum (OXY.US), ExxonMobil (XOM.US), BP (BP.US), and Chevron (CVX.US) all slipped by less than 1%. Brent crude oil futures’ main contract fell below the $101/barrel mark during trading, dropping more than 3% intraday. According to sources close to the mediation team, the United States, Saudi Arabia, and the United Arab Emirates have all agreed to a new memorandum of understanding draft proposed by Qatar. The US and Iran have made concessions on nuclear issues and the unfreezing of assets. Current discussions are centered on the first step—how to announce a temporary agreement has been reached, after which both sides will return to negotiations.