Etablissements Maurel et Prom SA

Shares in oil and gas producers across the U.S. and Europe fell sharply after the U.S. military halted two weeks of strikes on Iran, with Tehran signaling it would suspend its own attacks as long as the pause holds, easing fears of a broader Middle East escalation and dragging crude prices lower. In the U.S., Chevron and Exxon Mobil dropped about 2.5% each, ConocoPhillips slid 3.1%, Devon Energy fell 3%, Occidental Petroleum shed 3.7%, and Diamondback Energy lost 2.7%, while oilfield services companies SLB and Halliburton slipped 1.3% and 1.8% respectively. European names saw steeper declines, with the region's oil and gas index down about 2%, as BP fell 3.6%, Equinor lost 5.4%, Var Energi, Eni, and Maurel & Prom dropped more than 4% each, and TotalEnergies and OMV were down around 3% each. Brent crude futures tumbled 6.7% to $90.24 a barrel following the announcements. The pause came as diplomats sought to give peace talks space after a China-led push to revive stalled negotiations in Pakistan, though analysts cautioned that the path to a lasting peace remains uncertain with contentious issues including Iran's nuclear program and the Strait of Hormuz remaining closed under a U.S. blockade.