Energy companies fall after Iran says dozens of vessels are crossing Hormuz

Texas Pacific Land (Dover)

14/05/2026 16:21

** S&P 500 energy index .SPNY down 0.1%, tracking falling crude prices

** Brent crude futures LCOc1 down 0.6% at $104.92 per barrel, U.S. West Texas Intermediate CLc1 falls 0.5% to $100.45 per barrel

** Prices fall after Iran's state media says about 30 vessels crossed the Strait of Hormuz in recent hours, while the semi-official Fars news agency cited a source saying Iran had begun allowing transit for some Chinese vessels

** Energy major Chevron CVX.N falls marginally

** Diamondback Energy FANG.O, Valero Energy VLO.N, Baker Hughes BKR.O and Texas Pacific Land Corp TPL.N fall between 1% and 1.8%, among the top percentage losers on the energy index

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))