Oil volatility keeps rattling Wall Street amid Hormuz uncertainty
Sharp hour-to-hour swings in oil prices continued to shake financial markets on Thursday as traders struggled to assess how long the Strait of Hormuz could remain closed amid the Iran war.
Brent crude briefly climbed above $109 per barrel before reversing course and settling down 2.3% at $102.58, easing some pressure on Wall Street and bond markets.
US stocks erased early losses after the reversal, with the Dow rising 276 points while the S&P 500 edged closer to its record high.
