Israel and Iran continued to exchange strikes June 18, marking the sixth consecutive day of escalating conflict.

Shares of energy companies fell as traders bet that Israel and Iran would step back from the brink of a full-scale regional war. Crude oil futures shed 1.7% to close at $71.77 a barrel in New York. Oil prices briefly dipped below the psychologically significant $70-per-barrel level after The Wall Street Journal reported that Iranian leaders indicated they were open to returning to nuclear negotiations as long as the U.