US Oil Stocks Halt Gains as Rally Seen as Short-Term

US oil equities flatlined even as crude prices surged on Tuesday as investors began selling off and pricing in a possible quick resolution to the Iran war, which halted shipping through the Strait of Hormuz and disrupted supplies.

Investors decided to cash in on US oil and gas stocks that had a strong run-up in price last week as speculation mounted that the Trump administration was preparing for a military strike in Iran, analysts said. EOG Resources Inc., one of the largest US shale producers, said the disruption to oil flows is “probably short-lived.”