"The price for a barrel of benchmark U.S. crude oil climbed 6.8% to $100.79 after semiofficial news agencies in Iran suggested forces have mined the Strait of Hormuz, impacting oil supply."
"Brent crude, the international standard, rose 3.7% to $98.24 per barrel, remaining well above its roughly $70 level from before the war despite being below the $119 level reached during heightened tensions."
"Upward pressure on oil prices may be 'here to stay for a while,' according to strategists at Macquarie, due to the risks of renewed fighting affecting oil supply."
"Simply Good Foods tumbled 15.1% after reporting a worse drop in revenue than analysts expected, prompting CEO Joe Scalzo to announce immediate changes to improve performance."
Oil prices are climbing back toward $100 per barrel, with U.S. crude oil rising 6.8% to $100.79. The S&P 500 and Dow Jones Industrial Average experienced slight declines. Tensions between the U.S., Iran, and Israel regarding a ceasefire are contributing to market volatility. Brent crude rose 3.7% to $98.24 per barrel. Strategists suggest that upward pressure on oil prices may persist due to geopolitical risks. On Wall Street, Simply Good Foods saw a significant drop in stock value, while Constellation Brands reported stronger-than-expected quarterly results.
Read at Fast Company
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