U.S. Stocks in Motion | Brent Crude Oil Futures Fall Over 3%; Oil Stocks Decline Broadly in Pre-Market

Zhito Finance APP has learned that on Tuesday, oil stocks fell broadly in pre-market trading, with Petrobras (PBR.US) down more than 3%, while Occidental Petroleum (OXY.US), ExxonMobil (XOM.US), BP (BP.US), and Chevron (CVX.US) fell less than 1%. The front-month Brent crude oil futures contract broke below the $101/barrel mark during intraday trading, falling more than 3% on the day. On the news front, sources close to the mediation team said that the United States, Saudi Arabia, and the UAE all endorse the new draft memorandum of understanding proposed by Qatar. The United States and Iran have made concessions on the nuclear issue and frozen assets. Discussions are currently focused on the first step, namely how to announce the reaching of an interim agreement, after which both sides will return to negotiations.