Shares of energy companies fell as oil futures declined for the third straight session following a cease-fire in the Iran-Israel war.
Oil prices slid 6% to $64.37 a barrel, trading below the levels where they were before Israel's surprise attack on Iran's nuclear facilities roughly two weeks ago.
"The market's not the best at pricing in geopolitical risk on a global scale when it comes to wars," said Eric Marshall, president of Dallas mutual-fund firm Hodges Capital. "If you look throughout history, the market's just not good at it...it usually overdoes it, or underdoes it.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-24-25 1739ET
