Energy Stocks Slip as Iran Tensions Mingle with Nuclear Hopes

While the threat of a military response to the Strait of Hormuz incident weighed heavily on investor confidence, the market remained sensitive to shifting signals from the White House regarding Iranian nuclear negotiations. This uncertainty pressured the energy sector throughout the trading session.

Separately, BP announced a significant leadership shakeup as part of a broader push to streamline its corporate hierarchy. The company appointed Gordon Birrell to lead its upstream division, while Richard Harding will step in as the interim head of downstream operations. This restructuring aims to accelerate internal decision-making processes across the global energy giant.