U.S. markets are mixed early and oil prices are rising modestly as Iran and the U.S. launch fresh attacks in the Middle East, threatening a fragile truce.
Futures for the S&P 500 rose 0.1% before the opening bell Thursday, while futures for the Dow Jones Industrial Average fell 0.1%. Nasdaq futures were up 0.5%.
The United States launched more airstrikes on Iran, and Iran responded by firing at Bahrain, Kuwait and Qatar, a day after President Donald Trump said a temporary ceasefire was “over.” The prospects for a lasting peace are up in the air with high-level talks to end the war still underway, according to a regional intelligence official involved in the mediation efforts who spoke on condition of anonymity.
Oil prices inched up again Thursday, with Brent crude, the international standard, rising 64 cents to $78.66 per barrel. It briefly topped $80 on Wednesday. Before the Iran war began, Brent oil was trading at around $72 a barrel. Earlier optimism over an interim peace deal recently brought it back to prewar levels.
Benchmark U.S. crude rose 54 cents to $74.06 a barrel.
A steady decline in gasoline prices has reversed this week and the cost for a gallon jumped a nickel overnight, according to motor club AAA. Prices have risen for two days, wiping out a week of declines.
The average price for a gallon of regular gasoline was $3.85 Thursday, according to AAA. That’s 69 cents more per gallon than at this time last year.
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