U.S. stock markets recovered from early losses to close slightly higher on Thursday, posting their first weekly gain since the escalation of the Iran conflict, even as oil prices surged above $110 per barrel.
Markets initially declined following remarks by Donald Trump, who signaled continued U.S. military action against Iran without providing a clear timeline for de-escalation, fueling uncertainty across global financial markets.
The S&P 500 edged up 0.1 percent, capping a weekly gain of 3.1 percent, while the Nasdaq Composite also rose modestly and the Dow Jones Industrial Average slipped slightly but still recorded gains for the week.
Oil prices remained the dominant force driving market volatility, with U.S. crude climbing more than 11 percent to $111.54 per barrel and briefly nearing $114, while Brent crude rose to $109 per barrel.
The spike in energy prices is largely linked to disruptions in shipping through the Strait of Hormuz, a critical corridor that typically handles about one-fifth of the world’s oil supply.
Despite recent gains, markets have been highly sensitive to developments in the Middle East, with stocks fluctuating sharply based on geopolitical updates and investor expectations around the duration of the conflict.
The rebound reflects cautious optimism among investors, though ongoing tensions continue to pose significant risks to global markets and energy stability.
Swifteradio.com