Oil Prices Ease, Boosting Stocks and Reducing Inflation Worries

Oil prices declined on August 13, easing concerns about inflation. Brent crude fell by 2.5% to $86.75 a barrel.

The drop in oil prices helped fuel-intensive companies, while traders now see a 32% chance of a Fed rate increase next month.

U.S. stocks rose on August 13, with the S&P 500 nearing a record after a wholesale inflation report showed price pressures eased in July.