Shares of power producers fell as traders rotated into technology and other cyclical sectors.
Investors are awaiting updates on peace negotiations between the U.S. and Iran.
The spike in oil prices could, counterintuitively, bring electricity prices down, said Alex Kania, a utilities analyst at brokerage BTIG.
"Higher oil prices -- all else being equal -- means higher oil production, and that can mean more natural gas production, which may depress natural gas prices," a key input for U.S. electricity prices, said Kania.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-08-26 1716ET
