Major market shift as energy stocks plummet following US-Iran ceasefire deal. Oil prices crashed 15 percent Wednesday after President Trump announced a two-week truce conditional on Iran reopening the Strait of Hormuz, a critical waterway handling 20 percent of global crude oil. Energy companies that benefited from weeks of surging prices faced sharp selloffs. Crescent Energy dropped 6.79 percent to $12.77, while PBF Energy declined 6.82 percent to $43.03 as investors unloaded positions. The ceasefire agreement triggered a significant market rotation away from oil stocks that had posted strong gains during elevated geopolitical tensions. Despite Wednesday's decline, some analysts maintain bullish outlooks on energy names, with Raymond James maintaining a strong buy on Crescent Energy and raising its price target to $19, suggesting potential recovery ahead.
