U.S. Stocks Rise And Oil Prices Trim Their Gains On Hopes For The Ceasefire With Iran

LOADINGERROR LOADINGNEW YORK (AP) — U.S.stocks rose Thursday, even though oil prices did too, as financial markets moved more modestly a day after surging on optimism about a ceasefire in the war with Iran.The morning began with moderate losses for Wall Street following drops for Asian and European stocks.

But the S&P 500 erased its dip and finished with a 0.6% gain after Israel’s prime minister authorized direct negotiations with Lebanon.That eased worries that the two-week ceasefire announced late Tuesday may already be in trouble because of Israel’s bombardment of Lebanon.Advertisement The Dow Jones Industrial Average added 275 points, or 0.6%, and the Nasdaq composite climbed 0.8% after both indexes likewise recovered from early losses.Crude oil prices pared some of their gains, but they nevertheless remained higher for the day on uncertainty about when oil tankers can start fully flowing through the Strait of Hormuz.

The narrow waterway has been at the center of President Donald Trump’s demands of Iran, and blockages there have kept oil and natural gas stuck in the Persian Gulf and away from customers worldwide.The price for a barrel of benchmark U.S.crude rose 3.7% to settle at $97.87 after briefly nearing $103 in the morning.

Brent crude, the international standard, added 1.2% to $95.92 per barrel.Advertisement Given how far apart the United States and Iran seem to be in their demands, upward pressure on oil prices may be “here to stay for a while” according to strategists at Macquarie led by Thierry Wizman.Risks remain for renewed fighting, which could cause customers worldwide to hoard whatever oil supplies they do get.

That could itself keep oil off the market, much like actual fighting targeting pipelines or oil tankers.High gas prices are displayed at a Chevron gas station as an American flag flies on April 8, 2026 in El Segundo, California.(Photo by Mario Tama/Getty Images)Mario Tama via Getty ImagesOil prices have been sw...