Oil prices were down nearly 10 percent on Monday after a break in fighting between the U.S. Futures of global benchmark Brent crude were trading at less than $91 per barrel, after reaching more than $100 on Friday. benchmark West Texas Intermediate was trading at about $84 per...
Stock futures rose and crude fell after U.S. Ambassador Mike Waltz told "Face the Nation" that a pause in U.S.-Iran fighting aims to give diplomacy time to work. NEW YORK (AP) — Stocks are opening higher on Wall Street and oil prices are down 6% after the U.S.
and Iran paused their attacks while work resumed on restarting negotiations to end the war. The S&P 500 rose 0.8% early Monday. The index is coming off two weekly losses in a row.
The Dow Jones Industrial Average rose 581 points, and the Nasdaq composite rose 1%. Chinese memory chip maker CXMT soared in its debut in Shanghai. After shooting as high as $102 a barrel last week, Brent crude was trading at about $90 a barrel.
Treasury yields fell in the bond market.THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.BANGKOK (AP) — World shares were mostly higher Monday and oil prices slipped nearly 7% as the U.S. and Iran refrained from fighting while discussing a possible resumption of negotiations on an interim ceasefire deal.Shares in Chinese memory chipmaker CXMT soared 466% as they began trading on Shanghai’s technology board.
The company jumped to become China's most valuable listed company with an estimated market capitalization of 3.3 trillion yuan (nearly $490 billion).The Pentagon did not respond to questions about the pause in attacks on Iranian coastal areas and infrastructure after nearly two weeks of escalating fighting sparked by Iran’s firing at ships trying to transit the Strait of Hormuz.But markets reacted with relief. futures surged early Monday and the price of a barrel of Brent crude, the international standard, dropped 6.8% to $85.49.U.S. benchmark crude dropped 7% to $83.06 per barrel.“Oil’s sharp retreat at the Monday open did more than knock a few dollars off the barrel.
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