US energy stocks slide as oil declines after Iran declares Hormuz passage open

Coterra Energy

17/04/2026 14:18

** Shares of U.S. energy companies down premarket, tracking a decline in oil prices O/R

** Brent crude futures LCOc1 down 8.5% at $90.95/barrel, after hitting $89.52, their lowest since March 11

** U.S. West Texas Intermediate crude CLc1 falls ~12% to $83.81/barrel, lowest since March 11

** Crude prices fall after Iran's foreign minister says the Hormuz passage remains open to all commercial vessels

** Energy majors: Chevron CVX.N and Exxon Mobil XOM.N down 3.1% and 3.6%, respectively

** Oil and gas producers: Occidental Petroleum OXY.N, ConocoPhillips COP.N, Coterra Energy CTRA.N and APA Corp APA.O decline between 4% and 6.3%

** Oilfield services companies: Baker Hughes BKR.O down 2.3% and Halliburton HAL.N falls 3.2%

** Refiners: Marathon Petroleum MPC.N down 3.9%, Phillips 66 PSX.N falls 3.8%

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))