Oil Prices Retreat On U.S.-Iran Talks. This Supermajor Is Downgraded.

Core Viewpoint - U.S. oil prices have retreated from multi-month highs due to ongoing U.S.-Iran negotiations that may prevent potential oil supply disruptions [1] Group 1: Oil Prices - West Texas Intermediate oil futures fell more than 5% to below $62 per barrel [1] - The decline in oil prices is attributed to the potential easing of tensions between the U.S. and Iran [1] Group 2: Company Analysis - Analysts downgraded Chevron (CVX) prior to the stock market opening following its fourth-quarter earnings report [1] - Chevron and Exxon Mobil reported fourth-quarter earnings, but only one supermajor saw profit growth [1]