On June 18, Occidental Petroleum fell 3.21% in regular trading, trading at $51.29/share, with turnover of $140 million. The decline reflects continued selling pressure across the integrated oil and gas sector as the geopolitical supply risk premium unwinds following the US-Iran peace agreement.

On the news front, the US-Iran peace agreement was formally reached on June 15, with the Strait of Hormuz set to fully resume navigation on June 19. The removal of this critical supply bottleneck has driven WTI crude down to approximately $76 and Brent to the $79 range over consecutive trading sessions. Goldman Sachs has downgraded its Brent crude average price forecast citing increased supply and weakening demand, while speculative net long positions have fallen to multi-week lows.

Within the Integrated Oil and Gas sector, stocks declined broadly. Among major peers, Exxon Mobil fell 3.29%, BP fell 3.13%, Shell fell 2.67%, Chevron fell 2.45%, and Petrobras fell 2.20%. Wall Street firms including Morgan Stanley and Fitch have also lowered Q4 oil price expectations as Persian Gulf exports are expected to recover faster than previously anticipated.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)