S&P 5007,600.50▲1.5% Nasdaq25,913.90▲2.1% Dow53,178.41▲1.3% Russell 2K2,981.91▲1.7% 10-Yr4.69%−6bp VIX15.86−0.13 WTI$80.00▼5.5% Gold$4,106.70▲1.4% EUR/USD1.151▼0.1% BTC$64,182▲1.1% Nikkei64,362▲4.0%
At close · Mon, Aug 3, 2026
Daily Market Updates.

Commodities

Home›Commodities›Energy›Stocks rally as hopes for a Hormuz deal cool oil prices

Stocks rally as hopes for a Hormuz deal cool oil prices

Oil prices fell sharply on hopes that talks are progressing to reopen the Strait of Hormuz, supporting risk sentiment.

Reported · Written up by our desk · Energy

The New York Times reports that stocks rose as investors grew hopeful about a potential deal linked to the reopening of the Strait of Hormuz.

According to the outlet, oil prices dropped sharply amid expectations that progress on talks could help restore access through the strait.

The move in crude reflected shifting market views on supply risks, which in turn helped lift broader risk appetite.

Latest closeWTI crude $80.00 ▼5.5%

← Newer storyMcDonald’s says value-meal promotions became too confusing

More like this

CommoditiesUS crude inventories rise as API data diverges from draw expectations
CommoditiesChina’s EV ramp reduces oil demand at a critical supply chokepoint
CommoditiesPakistan expands mediation role as ties with Iran deepen
CommoditiesOil prices tumble after Bessent says Strait of Hormuz deal could come
CommoditiesOil drops as traders price in a potential U.S.-Iran deal

Sources

NYT BusinessStocks Rally as Investors Grow Hopeful About a Hormuz Deal

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.