Oil rally lifts APA, Cactus, Oceaneering and Borr Drilling as Iran tensions rise

Energy shares rose in early trading on May 14, 2026, after crude prices climbed more than 2.5% following the U.S. rejection of Iran’s latest peace proposal, raising concerns over geopolitical risk and potential supply disruption. West Texas Intermediate crude gained more than 2.5% to about $97.89 a barrel, while Brent rose more than 2.6% to roughly $104. The move supported oil-linked equities including APA Corp. (APA), Cactus (WHD), Oceaneering International (OII) and Borr Drilling (BORR), as higher crude prices can improve revenue expectations for producers and energy services companies. Cactus shares were trading at $56.32, up 19.7% year to date and near their 52-week high of $58.76. The stock has recorded 14 moves of more than 5% over the past year, underscoring elevated volatility in energy services names tied to crude price swings.