Stocks Rise as Hormuz Talks Progress and Oil Prices Drop
U.S. stock averages continued their upward trend in the afternoon on Friday as crude oil prices declined following reports that U.S.-Iran talks had moved to a more technical phase from initial diplomatic outreach. The shift suggested progress toward resolving tensions around the Strait of Hormuz, easing concerns over potential disruptions to global energy supplies. Crude oil dropped approximately 3% to about $91.70 per barrel as investors reacted positively to signs of de-escalation in geopolitical risks. Meanwhile, Brent crude also saw a decline amid similar sentiment.
