Energy Stocks Set to Erase All War Gains Amid Peace Talks

US energy stocks are poised to erase all of the gains seen since President Donald Trump started the war against Iran as oil prices pull back on the prospect of further negotiations aimed at ending the more than six-week conflict.

The S&P 500 Energy Sector Index fell as much as 3.1% on Tuesday, extending a slump that’s driven it back to where it was at the end of February. That came as Brent crude futures held below $100, leading energy stocks lower even as the supply shock has left oil prices significantly higher than they were before the conflict began.