Oil stocks dropped in premarket trade Monday, as oil prices pulled back sharply following comments from Iran’s oil minister that the country wouldn’t take part in coordinated production cuts. The SPDR Energy Select Sector exchange-trade fund slumped 1.1%. Among some of the more active oil and gas stocks ahead of the open, the shares of Marathon Oil Corp. slid 3.3%, of Transocean Ltd. shed 4.4%, of Chesapeake Energy Corp. fell 2.6%, of Exxon Mobil Corp. lost 0.8% and of EP Energy Corp. declined 2.9%. Crude oil futures dropped 2.5% early Monday, after settling Friday at a three-month high.
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