According to CoinMeta, the S&P 500 Energy Index fell by 2.1%, following the decline in crude oil prices. Brent crude oil futures dropped by 6.2%, to $106.45 per barrel. WTI crude oil fell by 6.5%, to $97.40 per barrel. Earlier reports indicated that talks between Iranian and Qatari officials boosted market hopes that supply disruptions in the Middle East would be alleviated. Meanwhile, the Iranian president stated that the supreme leader has granted the government certain powers to advance peace negotiations. Energy giants ExxonMobil and Chevron fell by 2.4% and 2% respectively. Valero Energy, Western Petroleum, and Devon Energy saw declines ranging from 3.1% to 3.9%, ranking among the top losers in the energy index. ConocoPhillips fell by 2%, RioTinto Resources fell by 2.3%, and Talga Resources fell by 2.6%. Oilfield service companies Halliburton fell by 2.5%, and Schlumberger fell by 2.3%. Refining companies Phillips 66 and Marathon Petroleum fell by 2.2% and 2.6% respectively.