US oil cos slip after Iran declares Hormuz open

Coterra Energy

17/04/2026 14:45

Updates

** Shares of U.S. energy companies decline, as oil prices fall below $90 per barrel after Iran's foreign minister says the Hormuz passage is "completely open" to all commercial vessels

** Brent crude futures LCOc1 down 10.5% at $88.94/bbl, while  West Texas Intermediate crude CLc1 falls 11.1% to $84.17/bbl O/R

** U.S. President Donald Trump says
Strait of Hormuz completely open
 and ready for business and full passage but "naval blockade will
remain in full force
 and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete"

** Oil majors Chevron CVX.N and Exxon Mobil XOM.N down 3.49% and 4.95%, respectively

** Oil and gas producers Devon Energy DVN.N, EOG Resources EOG.N and Occidental Petroleum OXY.N fall between 5.8% and 6.2%

** Oilfield services firm Halliburton HAL.N down 5.9%

** Refiners PBF Energy PBF.N down 10.7% while Phillips 66 PSX.N Marathon Petroleum MPC.N and Valero VLO.N down between 4.2% and 7.3%

 (Reporting by Sumit Saha in Bengaluru)

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