Markets on Wall Street are mixed as oil prices soar, lifting energy company stocks
Markets on Wall Street were mixed in early trading as oil prices soared due to stalled diplomatic efforts to end the Iran war, with Brent crude rising $3.26 to $104.95 per barrel. The Federal Reserve is set to meet on Wednesday to decide on interest rates, with most experts expecting it to stand pat amid rising energy costs.
Markets on Wall Street were mixed in early trading as oil prices soared due to stalled diplomatic efforts to end the Iran war. Futures for the S&P 500 slipped 0.6%, while futures for the Dow Jones Industrial Average gained 0.2%. The price for a barrel of Brent crude rose $3.26 to $104.95 per barrel. Rising oil prices have lifted energy companies, with BP's shares up 3.2% after the company reported a more than doubled profit. The Federal Reserve meets on Wednesday to decide on interest rates, with most experts expecting it to stand pat amid rising energy costs. In Asia, Japan's Nikkei 225 fell 1.0%, while South Korea's Kospi edged up 0.4%.
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