What Happened?

A number of stocks fell in the afternoon session after signals of de-escalation in the U.S.-Iran conflict caused oil prices to fall, removing a key support for the energy sector. 

The drop in crude prices came after President Trump suggested the U.S. could wind down its military campaign against Iran within weeks, and Iran's president stated a readiness to end the war. This news unwound the "war premium" that had boosted oil stocks during the conflict. As a result, West Texas Intermediate (WTI) crude oil fell about 2% to trade below $101 a barrel. The decline was also fueled by traders taking profits after a strong run in energy stocks.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• U.S. Shale E&P company Chord Energy (NASDAQ: CHRD) fell 3.5%. Is now the time to buy Chord Energy? Access our full analysis report here, it’s free.
• Mixed or Offshore Upstream E&P company Murphy Oil (NYSE: MUR) fell 4%. Is now the time to buy Murphy Oil? Access our full analysis report here, it’s free.
• U.S. Shale E&P company Crescent Energy (NYSE: CRGY) fell 5.4%. Is now the time to buy Crescent Energy? Access our full analysis report here, it’s free.
• U.S. Shale E&P company Diamondback Energy (NASDAQ: FANG) fell 3.9%. Is now the time to buy Diamondback Energy? Access our full analysis report here, it’s free.
• Diversified Upstream E&P company Devon Energy (NYSE: DVN) fell 3.7%. Is now the time to buy Devon Energy? Access our full analysis report here, it’s free.

Zooming In On Crescent Energy (CRGY)

Crescent Energy’s shares are extremely volatile and have had 35 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

Crescent Energy is up 49.9% since the beginning of the year, and at $12.76 per share, it is trading close to its 52-week high of $13.70 from March 2026. Investors who bought $1,000 worth of Crescent Energy’s shares at the IPO in December 2021 would now be looking at an investment worth $758.50.

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