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NOG shares fall on oil demand drop after Iran ceasefire.
Shares of Northern Oil and Gas (NOG) dropped 5.8% as renewed optimism for a U.S.-Iran ceasefire triggered a "relief rally" and reduced the risk premium on energy stocks.
Crude oil prices fell sharply after the International Energy Agency forecast the first annual decline in global oil demand since 2020.
Investors rotated out of energy sectors and into growth stocks, though NOG remains up 17% year-to-date.
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Las acciones de NOG caen debido a la caída de la demanda de petróleo después del alto el fuego en Irán.