US stocks move: Oil prices plummet as tensions ease between the US and Iran; oil stocks collectively fall pre-market, with multiple stocks such as Total dropping over 3%

Golden Ten Data July 27｜A sharp drop in oil prices has directly lowered profit expectations for oil companies, resulting in collective pressure on oil stocks in the US pre-market trading. Vivakor plunged over 9%, Sky Quarry dropped more than 7%, Equinor and Eni Oil fell over 4%, while Petrobras, BP, Total, and Cenovus Energy all declined by more than 3%.

On the news front, after the United States launched air strikes against Iran for 13 consecutive days, it ordered a pause in military action on July 24. Iran's military simultaneously announced a suspension of retaliatory measures, leaving room for diplomatic negotiations. Influenced by this news, Brent crude oil plummeted more than 7% within minutes after opening, falling below the $90/barrel mark; WTI crude oil fell over 6%, briefly dropping below $84/barrel.