Oil Prices Dip as Wall Street Stocks Rise Amid Ongoing Iran Tensions

Stocks on Wall Street rose Thursday as oil prices fell for the first time in a week, but the market is still heading for a losing week. The S&P 500 was mostly unchanged, while the Dow Jones Industrial Average rose 167 points or 0.3% by 2:51 p.m. Eastern time.

The Nasdaq fell 0.6%, weighed down by sharp losses from big stocks like Micron Technology and Nvidia. These companies have large market values that tend to heavily influence the broader market.

Wall Street is closing out a week of increasing pressure from the U.S. war with Iran, which has threatened to slow the global flow of oil and gas. The Strait of Hormuz remains closed, putting further strain on the energy market.