BTU, HPK Shares Decline as Oil Drops on Iran Ceasefire Hopes and Jobs Data

Shares of Peabody Energy and HighPeak Energy fell on Friday, June 6, 2026, as energy stocks pulled back following a slide in oil prices. The retreat came after U.S. President Joe Biden said nuclear talks with Iran were “progressing well” and a stronger-than-expected May jobs report heightened interest rate concerns. West Texas Intermediate crude dropped 1.76% to $91.40 a barrel, though still over 40% above year-ago levels. Hopes that a deal could ease Strait of Hormuz disruptions led investors to shed risk premiums tied to supply scarcity. Separately, robust labor market data pushed Treasury yields higher, raising the cost of capital for exploration and production firms with significant debt. Among the movers, HighPeak Energy shares exhibited extreme volatility, with 72 moves greater than 5% in the past year. The Permian Basin-focused producer has gained 72% year-to-date to $7.69, yet remains 35.4% below its 52-week high of $11.90 reached in June 2025.