Oil Prices Swing as US Stocks Edge Closer to Records

US stocks continue to hover near record highs despite higher oil prices and ongoing uncertainty about the Iran conflict.

The S&P 500 slipped 0.3% on Tuesday, its second modest drop since setting an all-time high on Friday, while the Dow Jones Industrial Average dipped 184 points or 0.3%

The price of Brent crude briefly jumped above $90 in the morning before falling back below $87 and eventually settling at $88.91, up 1.4% from Monday.

Higher oil prices have been a major concern for investors, with inflation rising to 3.5% in June according to recent data.