Shares of U.S. companies in the energy sector rose as oil prices declined amid rising hopes of a U.S.-Iran agreement to normalize shipping through the Strait of Hormuz.
Nineteen tankers went through the Strait of Hormuz in either direction on Saturday followed by 14 on Sunday, according to ship-tracking firm Kpler, as the U.S. and Iran discuss a normalization of traffic in the waterway. The number is a fraction of prewar rates. A stream of crude is set to come from Iran itself after the U.S. lifted its own blockade.
Vice President JD Vance said Iranian officials had agreed to allow nuclear inspectors from the United Nations back into their country, possibly as early as this week, signaling progress on an issue key to bringing the war to a permanent end.
A blast tore through Qatar's key natural gas facility, leaving 13 dead and injuring dozens, rattling one of the world's most important gas exporters as it tries to restore shipments disrupted by the Iran war.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
