Iran says dozens of ships are currently passing through the Strait of Hormuz, while the US stock market energy sector weakens

(1) On the evening of May 14, the S&P 500 Energy Index edged down 0.1%, while international crude oil prices also decreased. Brent crude oil futures fell by 0.6% to $104.92 per barrel; West Texas Intermediate crude oil futures declined by 0.5% to $100.45 per barrel.(2) The trigger for this retreat in oil prices was a news release from Iran's official media, stating that about 30 ships had successfully passed through the Strait of Hormuz in the past few hours. Iran's semi-official Fars News Agency also quoted informed sources saying Iran has allowed some Chinese ships to transit the strait.