US Stock Market Move | Oil and gas concept stocks generally fell, ConocoPhillips (COP.US) fell more than 5%.

On Monday, oil and gas concept stocks fell across the board, with ConocoPhillips (COP.US) and Apache Corporation (APA.US) falling more than 5%, Exxon Mobil Corporation (XOM.US) falling more than 4%, Chevron Corporation (CVX.US) and Occidental Petroleum Corporation (OXY.US) falling more than 3%. In terms of news, Brent crude oil futures fell by more than 5% to $82.44, while WTI crude oil futures fell by nearly 6% to $78.52. On June 15th, local time, US Vice President Pence stated that the memorandum of understanding reached between the US and Iran has been electronically signed, and the agreement terms have essentially taken effect. US President Trump previously stated on social media that the official signing ceremony of the agreement will take place in Switzerland on the 19th. He also mentioned that some terms, including the reopening of the Strait of Hormuz, will take effect after the official signing.