BUZZ - Iran deal hopes push oil prices lower, US energy stocks fall

November 2 - ** Dragged down by falling crude oil prices, US energy stocks drop in pre-market trading O/R

** Brent crude oil futures LCOc1 fell 4% to $108.85 a barrel; US West Texas Intermediate crude CLc1 fell 4.1% to $99.88 a barrel

** Oil prices fell (link) as officials from Iran and Qatar held talks on an agreement to end the US-Israel war against Iran, raising hopes in the market that the risk of Middle East supply disruptions could ease

** "We think this reaction is somewhat excessive, as the United States is not directly involved, and as Iran's main rival, the market can only truly price in a return to normal if the US agrees to a deal," said Panmure Liberum analyst Ashley Kelty

** Shares of energy giants ExxonMobil (XOM.N) and Chevron (CVX.N) fell 1.3% and 1.1%, respectively

** Oil and gas producers APA Corporation APA.O, Devon Energy DVN.N, EOG Resources EOG.N, Occidental Petroleum OXY.N, and Diamondback Energy FANG.O saw declines ranging from 1.5% to 2.2%

** Oilfield service companies Halliburton HAL.N dropped 1.1%, and SLB SLB.N slipped 0.9%

** Refiners Phillips 66 PSX.N, Marathon Petroleum MPC.N, and Valero Energy VLO.N fell 0.8%, 1.1%, and 1.8%, respectively

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