By Adam Clark

Energy stocks were falling early Wednesday after a report suggested Iranian intelligence officials had contacted American counterparts about discussing terms for ending the conflict.

Exxon Mobil and Chevron gave up early gains to trade slightly down in the premarket, while Occidental Petroleum was down 1.5%.

Operatives from within Iran's Ministry of Intelligence have reached out indirectly to the Central Intelligence Agency, although U.S. officials remain skeptical about whether the Iranian regime is genuinely open to negotiations, the New York Times reported on Wednesday, citing unnamed officials.

President Donald Trump has previously indicated he is open to speaking to Iranian regime figures and publicly suggested following the example of Venezuela, where the existing government was largely kept intact after the removal of its leader Nicolás Maduro. However, Trump posted Tuesday on social media that it was it was "TOO LATE" for conversation.

Israeli officials have urged Washington to ignore the Iranian approach and are pushing for a weekslong campaign, according to the report.

Write to Adam Clark at adam.clark@barrons.com

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March 04, 2026 07:20 ET (12:20 GMT)

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