BUZZ - US energy stocks drop as crude oil prices decline due to Iran peace talks

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November 2 - ** The S&P 500 Energy Index .SPNY fell 2.1%, following a decline in crude oil prices O/R

** Brent crude futures LCOc1 dropped 6.2% to $106.45 per barrel; US West Texas Intermediate crude CLc1 fell 6.5% to $97.40 per barrel

** Oil prices declined (link) as talks between Iranian and Qatari officials boosted market hopes that Middle East supply disruptions will be eased; meanwhile, Iran's president said that the Supreme Leader had granted the government certain powers to advance peace talks

** Energy giants: ExxonMobil XOM.N and Chevron CVX.N fell 2.4% and 2% respectively

** Valero Energy VLO.N, Occidental Petroleum OXY.N, and Devon Energy DVN.N lost between 3.1% and 3.9%; ranking among the top decliners in the energy index

** ConocoPhillips COP.N dropped 2%, EOG Resources EOG.N fell 2.3%, and Targa Resources TRGP.N slipped 2.6%

** Oilfield service companies Halliburton HAL.N declined 2.5%, and Schlumberger SLB.N fell 2.3%

** Refiners: Phillips 66 PSX.N and Marathon Petroleum MPC.N dropped 2.2% and 2.6% respectively

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