Murphy Oil, SM Energy, Northern Oil and Gas, Crescent Energy, and Patterson-UTI Stocks Trade Down, What You Need To Know

A number of stocks fell in the afternoon session after President Donald Trump announced a two-week suspension of attacks on Iran, leading to a massive collapse in crude oil prices.

The “double-sided” ceasefire and the subsequent reopening of the Strait of Hormuz effectively removed the “war premium” that propped up energy prices. As the threat of a prolonged conflict recedes and the U.S. discusses sanctions relief for Iran, the outlook for global oil supply is projected to shift from a deficit to a potential surplus. Investors rotated out of these defensive “inflation hedges” and back into growth-oriented sectors, viewing the current ceasefire as a sign that the peak of the energy-driven profit cycle may have passed.

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:

Murphy Oil’s shares are very volatile and have had 21 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.

The previous big move we wrote about was 6 days ago when the stock gained 3.1% on the news that geopolitical tensions in the Middle East escalated, pushing crude oil prices sharply higher.

President Trump’s televised remarks signaled that the U.S. conflict with Iran could continue for several more weeks, increasing investor nervousness. This uncertainty drove West Texas Intermediate and Brent crude prices up. With supply potentially constrained, markets expected that higher global oil prices would be reflected in stronger earnings for oil and gas companies.

Murphy Oil is up 21.7% since the beginning of the year, and at $39.55 per share, it is trading close to its 52-week high of $42.74 from April 2026. Investors who bought $1,000 worth of Murphy Oil’s shares 5 years ago would now be looking at an investment worth $2,375.

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