Clean Energy Fuels and RPC Shares Are Falling, What You Need To Know

What Happened?

A number of stocks fell in the afternoon session after the U.S. Treasury formally issued a 60-day general license authorizing the production and sale of Iranian crude oil, extending a de-escalation trade that began when Washington and Tehran signed an interim peace framework the previous week. 

Energy markets were not just reacting to new Iranian barrels entering supply, they were pricing out a war. The U.S. and Israel launched strikes on Iran on February 28, 2026, triggering the largest disruption to global energy supply since the 1970s. Iran closed the Strait of Hormuz, which normally handles roughly 20% of the world's oil and LNG, pushing Brent from approximately $73 pre-war to $126 at its peak. T

he 14-point memorandum of understanding signed the previous week commits Iran to reopening the strait and allowing IAEA inspectors to return. The Treasury general license, announced by Secretary Scott Bessent as part of that peace framework, is the formal implementation step clearing Iranian barrels to flow legally through August 21. Each confirmed step in the diplomatic process removes another layer of the roughly $50-per-barrel war premium still embedded in crude. 

However, the read-through carries meaningful caveats that the original draft overlooked. Iran re-announced the closure of the Strait of Hormuz over the weekend, citing Israeli strikes in Lebanon as ceasefire violations, even as maritime data from Windward and Lloyd's List showed tankers continuing to transit. 

JD Vance arrived in Switzerland on Sunday and mediators cited "encouraging progress," but the final deal was not signed. The IEA also warned that if the framework held fully, 2027 global supply could outstrip demand by 5.05 million barrels per day, a structural headwind for energy equities extending well beyond the session's move.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Mixed or Offshore Upstream E&P company Clean Energy Fuels (NASDAQ:CLNE) fell 3.2%. Is now the time to buy Clean Energy Fuels? Access our full analysis report here, it’s free.
• Oilfield Services company RPC (NYSE:RES) fell 2.7%. Is now the time to buy RPC? Access our full analysis report here, it’s free.

Zooming In On Clean Energy Fuels (CLNE)

Clean Energy Fuels’s shares are very volatile and have had 28 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 3 months ago when the stock gained 8.1% on the news that the Oil & Gas sector rallied as escalating geopolitical tensions in the Middle East stoked fears of a wider conflict and potential supply disruptions. 

Oil prices continued their ascent even as President Trump extended a deadline for Iran to reopen the Strait of Hormuz by ten days, a critical chokepoint for global oil trade. The President had previously threatened military action if the vital shipping lane remained closed. 

While Trump suggested talks were progressing, Iranian officials reportedly maintained they are not negotiating. The ongoing uncertainty and risk to the global oil supply pushed crude prices higher, boosting the outlook for oil and gas producers despite the broader stock market falling on the news.

Clean Energy Fuels is down 16.4% since the beginning of the year, and at $1.81 per share, it is trading 41% below its 52-week high of $3.06 from October 2025. Investors who bought $1,000 worth of Clean Energy Fuels’s shares 5 years ago would now be looking at only $161.45.

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