What Happened?

A number of stocks fell in the afternoon session after signals of de-escalation in the U.S.-Iran conflict caused oil prices to fall, removing a key support for the energy sector. 

The drop in crude prices came after President Trump suggested the U.S. could wind down its military campaign against Iran within weeks, and Iran's president stated a readiness to end the war. This news unwound the "war premium" that had boosted oil stocks during the conflict. As a result, West Texas Intermediate (WTI) crude oil fell about 2% to trade below $101 a barrel. The decline was also fueled by traders taking profits after a strong run in energy stocks.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Mixed or Offshore Upstream E&P company California Resources (NYSE: CRC) fell 3.7%. Is now the time to buy California Resources? Access our full analysis report here, it’s free.
• Oilfield Services company Expro (NYSE: XPRO) fell 4.7%. Is now the time to buy Expro? Access our full analysis report here, it’s free.
• Oilfield Services company RPC (NYSE: RES) fell 4.9%. Is now the time to buy RPC? Access our full analysis report here, it’s free.
• U.S. Shale E&P company HighPeak Energy (NASDAQ: HPK) fell 7.4%. Is now the time to buy HighPeak Energy? Access our full analysis report here, it’s free.
• Oilfield Services company Nabors Industries (NYSE: NBR) fell 7.8%. Is now the time to buy Nabors Industries? Access our full analysis report here, it’s free.

Zooming In On Nabors Industries (NBR)

Nabors Industries’s shares are extremely volatile and have had 60 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

Nabors Industries is up 43.3% since the beginning of the year, but at $79.40 per share, it is still trading 11.4% below its 52-week high of $89.60 from March 2026. Despite the year-to-date gain, investors who bought $1,000 worth of Nabors Industries’s shares 5 years ago would now be looking at only $803.73.

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