Oil price fluctuates ahead of Trump's Iran deal deadline

The US president has threatened to take out Iran "in one night" if it does not agree to open the Strait of Hormuz.

On Monday, U.S. stocks edged higher in cautious trading amid escalating geopolitical tensions, as President Donald Trump set a final deadline for a potential bombing of Iranian power plants if Iran does not reopen the Strait of Hormuz. The S&P 500 rose by 0.4%, the Dow Jones Industrial Average gained 165 points, and the Nasdaq composite advanced 0.5%. Oil prices also climbed, with U.S. crude settling at $112.41 per barrel and Brent crude at $109.77, significantly higher than pre-war levels due to disrupted oil flow from the Persian Gulf. The market responded partly to Friday’s strong U.S. jobs report, which showed better-than-expected hiring and a drop in unemployment. The war, which began in late February with U.S. and Israeli strikes, has led to rising gasoline prices, now averaging $4.12 per gallon in the U.S. Iranian officials rejected the latest ceasefire, demanding a guarantee of no future attacks. Meanwhile, tech stocks delivered mixed results while bank stocks rose, with JPMorgan Chase up 1.3%. The 10-year Treasury yield held steady at 4.33%, remaining elevated from pre-war levels, affecting loan rates. Expansion in U.S. services sectors continued, although inflation concerns persist.