# Energy stocks have pulled back from Iran war-driven spikes.

*business · news · 2026-04-13 · Business Insider*

## Key points

- Morgan Stanley says energy stocks have peaked, signaling expectations of lower oil and gas prices.
- Energy stocks' relative performance has turned lower despite ongoing high oil prices from the Iran war.
- Morgan Stanley recommends shifting focus from energy producers to refiners within the sector.
- The team draws parallels between current oil price peaks and past market reactions to trade uncertainty.

**Companies:** Morgan Stanley
**Countries:** United States, Iran

[Read the full story on Business Insider](https://www.businessinsider.com/oil-gas-prices-markets-energy-stocks-investing-iran-morgan-stanley-2026-4)

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