US stock movements | US oil companies fall in pre-market trading as the US and Iran receive immediate ceasefire proposal

Glonghui, April 6 — Due to the drop in crude oil prices, U.S. oil company stocks fell in pre-market trading. Exxon Mobil and Occidental Petroleum both declined more than 1%, Chevron fell 0.97%, and ConocoPhillips dropped 0.4%. According to reports, significant news has come from Iran’s situation. Reuters, citing a source on the 6th, stated that a ceasefire agreement between the United States and Iran could take effect on the 6th. Pakistan has drafted a framework proposal to end the conflict, which includes an immediate ceasefire and reopening the Strait of Hormuz, followed by a final agreement within 15 to 20 days. A senior Iranian government official said they have received the latest ceasefire proposal from the mediator Pakistan and are currently reviewing its contents. The official stated that Iran would not reopen the Strait of Hormuz in exchange for a “temporary ceasefire.”