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Business Stocks rally and oil tumbles as Wall Street hopes for a limited retaliation after US strikes on Iran The S&P 500 was 0.7% higher in afternoon trading.
The price of oil initially jumped 6% after trading began Sunday night, a signal of rising worries as investors got their first chance to react to the U.S. bombings.
U.S. stocks rallied, and oil prices tumbled on hopes that Iran will not disrupt the global flow of crude, even with the United States’ entry into its war with Israel.
The escalating tensions in the Middle East could impact gas and oil prices. FOX 9’s Chenue Her has more on the story.
Crude oil prices were only up about 1% in early trading on June 23 after the US bombed Iranian nuclear sites over the weekend. Before this rise, oil prices had increased nearly 21% in the last ...
By late Monday, the price of a barrel of benchmark U.S. oil had dropped 7.2% to settle at $68.51 after briefly topping $78. That brought it nearly all the way back to where it was before the ...
By late Monday, the price of a barrel of benchmark U.S. oil had dropped 7.2% to settle at $68.51 after briefly topping $78.