US-Iran Tensions Ease, Stocks Waver and Oil Prices Drop

The US-Iran conflict has led to a decrease in tensions, causing stocks to waver on Wall Street and crude oil prices to drop 5%. The S&P 500 fell 0.2%, while the Dow Jones Industrial Average rose 123 points, or 0.2%.

Oil prices have reversed their sharp escalation last week, with Brent crude dropping 6.2% to $86.01 a barrel for October delivery.

The war between the US and Iran has had a ripple effect on global oil supplies, causing gasoline prices to surge and shipping costs to rise.