US stocks rally near a record as falling oil prices ease Wall Street’s worries about inflation
Oil dropped more than 5% as Trump said strikes on Iran were on hold and talks could reopen the Strait of Hormuz, easing supply fears.
- Oil prices fell sharply after U.S. President Donald Trump delayed military action against Iran, creating hopes for a diplomatic resolution.
- The decline in oil prices, linked to Trump's decision, positively impacted the stock market.
- Brent crude, the international benchmark, decreased over 4% to about $84 a barrel amid optimism for a resolution.
- Trump expressed concern about oil companies, urging them to do more for consumers.
304 Articles
304 Articles
Oil plunges after US signals progress on Hormuz deal
Stocks jumped and Brent crude prices plunged Tuesday after the US signaled a deal to reopen the Strait of Hormuz could be imminent, but the drop is unlikely to translate to immediate relief at the pump. US President Donald Trump castigated oil majors for not doing more to bring down gas prices, after ExxonMobil, Chevron, and others reported blowout earnings. But unlike oil futures, which fluctuate “based largely on traders’ vibes,” retail fuel p…
Beckley Register-Herald
US stocks leap toward a record as profits keep piling up and oil prices ease
The U.S. stock market is rallying toward a record as companies keep piling up profits and oil prices ease. The S&P 500 climbed 1.7% Tuesday and is on track to top its all-time high set in June. The Dow Jones…
Kreiszeitung
Trump criticizes the billions of profits of Exxon and Chevron and demands cheaper fuel.
U.S. President Donald Trump criticized oil companies ExxonMobil and Chevron on Monday, accusing them of getting "too much money out of the fuel price rise caused by tensions related to Iran's war.
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