Energy Down With Oil Futures - Energy Roundup

Dow Jones05:20

Shares of energy companies fell alongside oil futures.

West Texas Intermediate oil futures plunged $4.70, or 5.8% to $76.05 a barrel, settling below $80 per barrel for the first time since March, as traders banked on a rapid reopening of the Strait of Hormuz upon the signing of the U.S.-Iran memorandum of understanding.

Norwegian oil major Equinor plans to spend more on oil and gas projects while also increasing returns to shareholders, including a doubling of its 2026 share buyback to $3 billion.

The U.S. will allow Iran to immediately begin selling oil and fuel under the deal to end the war, offering Tehran an early financial incentive to wind down the conflict.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

June 16, 2026 17:20 ET (21:20 GMT)

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