Commodities
US Stocks Rebound as Iran Tensions Ease
US stocks on Wall Street had a mixed close Monday as oil prices dropped following the pause in hostilities between the US and Iran.
The S&P 500 rose less than 0.1% after fluctuating throughout the day, while the Dow Jones Industrial Average gained 0.5%. The Nasdaq composite fell 0.2%, its fourth consecutive loss.
The price of Brent crude oil dropped 6.3% to $85.87 a barrel for October delivery, while US crude oil for September delivery fell 7.5% to $82.61 a barrel.
The war between the US and Iran has significantly disrupted traffic through the Strait of Hormuz, affecting global economies and causing gasoline prices to surge.