Oil Price Drop Eases Inflation Worries, Boosts Stock Market

The oil market continued its downward trend on Tuesday, leading to a decrease in worries about inflation and supporting stock prices.

The price of Brent crude fell by 3.6% to $87.27 for a second decline following 13 gains in 14 days.

This drop came despite rising tensions between the United States and Iran, with the Trump administration announcing new sanctions to further harm Iran's economy.

The decrease in oil prices helped ease concerns about high inflation, which had driven up Treasury yields throughout the summer.