Santos (ASX:STO) shares fell over 1% in recent Friday trade, while Karoon Energy (ASX:KAR) shed nearly 3%, as the price of oil hit a two-month low after US President Donald Trump canceled plans to strike Iran.
Brent crude futures were down 1.3%, and WTI crude declined 1.4%, both sitting below the $90 per barrel mark.
In a social media post, Trump said he called off strikes on Iran because discussions between the two sides have progressed, creating hope for a peace deal to end the conflict.
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