U.S. LNG companies drop after Iran opens Strait of Hormuz

Investing.com -- U.S. liquefied natural gas companies fell in premarket trading Friday after Iran announced the Strait of Hormuz would remain open to all commercial shipping during the Lebanon ceasefire.

Venture Global dropped 6%, while NextDecade declined 5.8% and Cheniere Energy slipped 4.1%.

Iran's Foreign Minister Abbas Araghchi wrote on X that passage for all commercial vessels through the Strait of Hormuz is completely open for the remaining period of the ceasefire. The announcement specified that vessels should use the coordinated route already announced by the Ports and Maritime Organisation of the Islamic Republic of Iran.

Crude oil WTI futures fell roughly 11% following the announcement, trading just above $84.

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