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Commodities

US Stocks Surge on Falling Oil Prices and Iran Deal Hopes

Guavy AI Editorial Team
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Oil
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The US stock market rallied on Monday, gaining over 1% due to falling oil prices and hopes of a deal with Iran. The S&P 500 index extended its recovery after a turbulent July marked by sharp swings.

The Dow Jones Industrial Average advanced 624 points, or 1.2%, while the Nasdaq Composite was up over 1%. Oil prices declined, providing relief to Wall Street by easing concerns that inflationary pressures could intensify further.

Brent crude fell 4.9% to $83.65 per barrel after President Donald Trump said he had decided against authorizing fresh US military strikes on Iran following appeals from regional allies.

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