Shares of energy companies rose as fears about the Strait of Hormuz drove a rebound in oil futures.
Oil rose 3.7% to $94.69 a barrel in New York after Defense Sec. Pete Hegseth said the U.S. was prepared for a prolonged blockade of the key energy shipping lane.
President Trump said peace talks with Iran could resume this weekend.
Spanish oil-and-gas producer Repsol said it would regain control of its operations in Venezuela, paving the way for an output increase in the oil-rich country.
Repsol signed an agreement with the Venezuelan government and state-owned oil company PDVSA to retake operational control of a major oilfield.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 16, 2026 16:52 ET (20:52 GMT)
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