Oil prices rise again and Asian stocks retreat
AP News
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Oil prices are rising again and Asian stocks are trading lower on skepticism over a fragile ceasefire between the U.S. and Iran.
Brent crude, the international standard, was up more than 2% to around $97 a barrel.
Markets in Japan, South Korea, Australia and China were all lower Thursday.
Investors are closely watching whether a two-week ceasefire between the U.S. and Iran is already slipping after deadly Israeli strikes on Lebanon.
Iran again closed the Strait of Hormuz in response to the attacks in Lebanon.
Wall Street closed sharply higher Wednesday after announcement of the temporary ceasefire agreement.
Oil prices plunge on ceasefire
- Oil plunges below $95 as the Dow surges 1,300 in a worldwide rally following a ceasefire with Iran Scripps News —
- The oil market navigates a shaky ceasefire Financial Times —
- The Long-Term Economic Damage From the Iran War Bloomberg —
- Oil Rises After Biggest Drop Since 2020 as Hormuz Stays Blocked Bloomberg —
- Oil prices slide on US-Iran ceasefire, but fuel prices will stay high for weeks ABC News —