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.
306 Articles
306 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…
US stocks leap toward a record as profits keep piling up and oil prices ease
Despite worries about high inflation, the war in Iran and a possible bubble in stock prices, Wall Street is nearing its latest apex in large part because profits are soaring for companies.
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.
Coverage Details
Bias Distribution
- 45% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
