CVX is trading at $190.44 (-5.51%) in pre-market as oil prices plunge 15% to $95.67 following news of a US-Iran ceasefire and the reopening of the Strait of Hormuz.
- Energy stocks are under broad pressure as crude prices retreat, reversing prior gains fueled by Middle East instability and Venezuelan developments.
- The move comes after yesterday's close of $201.54, with no company-specific catalysts such as earnings or deals reported for April 8.