Energy Declines After Iran Response to U.S. Attack Seen Limited - Energy Roundup

Shares of energy companies fell sharply after the Iranian response to the U.S. attack on its nuclear facilities was interpreted as restrained.

Iran fired missiles at a U.S. base in Qatar, but did not close the Strait of Hormuz as feared. Oil futures plunged by more than 7% in New York, closing at $68.51 a barrel.

"I'm assuming that's because a) the response preannounced and b), there doen't appear to have been any casualties or significant damages, so maybe it's been interpreted as a de-escalation," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

Iranian lawmakers on Sunday reportedly threatened a closure of the Strait of Hormuz, a strip of water connecting the energy-rich Persian Gulf to global markets.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

06-23-25 1736ET