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Oil Prices Dip After Iran Says Dozens of Vessels Are Crossing Hormuz

Brent and West Texas Intermediate fell after Iran said about 30 vessels crossed the strait and some Chinese ships were allowed through.

Summary by GV Wire
Oil prices dipped on Thursday after Iran’s state media said about 30 vessels had 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. Meanwhile, the White House, speaking of U.S. President Donald Trump’s meeting with Chinese President Xi Jinping, said both leaders agreed the Strait of Hormuz must be open for the free flow of energy. X…
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Energy News for the United States Oil & Gas Industry | EnergyNow.com broke the news on Thursday, May 14, 2026.
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