Shares of energy companies fell alongside oil futures amid doubts about demand and OPEC policy.
Oil prices initially rose following reports that Iranian President Ebrahim Raisi was killed in a helicopter crash on Sunday.
"The death of the Iranian President in a helicopter crash adds more uncertainty in an already uncertain region," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
"There could be short- and long-term implications for Iran and the Middle East in general," said Joyce.
Natural gas futures added to recent gains in anticipation of heightened demand during the summer air-conditioning season.
Oil tanker line Overseas Shipholding Group agreed to be acquired by Saltchuk Resources, its largest shareholder, in a deal valued at $950 million.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-20-24 1722ET
