Oil Prices Plummet as Stocks Rise on Wall Street

Stocks on Wall Street edged higher despite ongoing tensions in the Middle East. The S&P 500 rose 0.1%, while the Dow Jones Industrial Average added 0.5%. However, the Nasdaq composite fell 0.6%.

The Brent crude price dropped almost 4% to settle at $96.78 a barrel after reaching $102 a day earlier. This marks the first decline in oil prices for the week.

Despite heavy fighting in the Middle East threatening global oil supply, European markets rose and Asian markets closed lower.