The Economic Times

Why are oil prices down by 10% and US stock market indexes, Dow Jones, S&P 500 and Nasdaq, up now? Here's if Strait of Hormuz is fully open now

Why are oil prices down by 10% and US stock market indexes, Dow Jones, S&P 500 and Nasdaq, up now? Oil prices fell by more than 10% after Iran said the Strait of Hormuz is open again. Stock markets rose across the world. Investors reacted to hopes of easing tensions between the United States and Iran. Lower oil prices reduced inflation fears and supported companies with high fuel costs. Markets now watch diplomacy and shipping safety updates.