Energy Stocks Hit Record as Oil Rises on Fading Deal Hopes

Industries Energy Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Monique Mulima August 18, 2026 at 1:59 PM UTC Updated on August 18, 2026 at 8:40 PM UTC Energy stocks closed at the first record since March as investors see diminishing prospects for a near-term ceasefire in the Iran war that could ease the standoff in the crucial Strait of Hormuz. The S&P 500 Energy Sector Index climbed 1.8% on Tuesday, marking the first all-time high for the gauge since March 27.