Shares of energy companies fell alongside oil futures after reports that President Trump was close to ending the Iran war.
The SPDR Select Sector energy exchange-traded fund, which tracks the energy industry group of the S&P 500, fell 1.4%, but is still up by 33% for the year to date.
Oil futures fell 1.5% to $101.38 a barrel in New York, and closed around $106 a barrel in London. Oil prices initially surged after Iranian forces attacked an oil tanker in the United Arab Emirates.
Dubai-based carrier Emirates said Tuesday that Iranian nationals aren’t allowed to enter and transit through the Gulf state.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
March 31, 2026 18:01 ET (22:01 GMT)
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