Iran,Stocks Up, Down, Peace, War, Repeat.
Oil prices pulled back and stocks inched higher on Tuesday as investors looked to the possibility of a second round of peace talks between the United States and Iran.
With the two-week cease-fire set to expire this week, the two countries appeared to be preparing to take part in another round of peace negotiations in Pakistan, even as tensions in the Strait of Hormuz escalated in the last few days.
The price of Brent crude, the global benchmark for oil, was about $95 a barrel, down about 1 percent on Tuesday.
West Texas Intermediate crude, the U.S. benchmark, was around $87 a barrel, down roughly a dollar from the previous day.
Investors and analysts are focused on the continued disruption to shipping in the Strait of Hormuz, the narrow waterway between Iran and Oman that is a vital trading route for oil and natural gas that normally carries as much as one-fifth of the world’s oil supply.
NY Times
