Oil prices gives back much of their morning jump as US stocks climb on a still hopeful Wall Street
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US stocks climbed on Monday as hope remains that the US-Iran conflict can be avoided, with the S&P 500 rising 0.6% and the Dow Jones Industrial Average up 102 points. Oil prices pared their gains after briefly jumping over $100 per barrel, with Brent crude settling at $99.36 per barrel.
US stocks rose on Monday amid hopes of avoiding a worst-case scenario in the US-Iran conflict. The S&P 500 gained 0.6% and the Dow Jones Industrial Average was up 102 points. Oil prices jumped after ceasefire talks failed, but pared their gains as the day progressed. Brent crude settled at $99.36 per barrel. The US-Iran conflict has raised concerns about global oil supplies. Big US companies are beginning to report their quarterly earnings, with Goldman Sachs exceeding expectations. Other companies, including Citigroup and Johnson & Johnson, will report later this week.
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