Chevron Stock Falls Despite Supreme Court Win as Oil Prices Tumble on Hormuz Reopening
Chevron stock dropped Friday, hit by weaker oil prices after Iran announced the Strait of Hormuz remains open to commercial shipping during the ceasefire—knocking energy shares broadly lower. The decline followed a U.S. Supreme Court decision that sided with Chevron and other oil majors in a jurisdiction dispute tied to a protracted Louisiana coastal-damage lawsuit.