US stocks hover just below records as oil slips on hopes of an Iran deal
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May 7, 2026 11:40 AM
EW YORK (AP) — The U.S. stock market is hanging just below its records Thursday as oil prices keep dropping on hopes that a deal may be nearing to allow tankers to deliver crude once again from the Persian Gulf to customers.
The price for a barrel of Brent crude oil, the international standard, fell 0.5% to $100.71, down from more than $115 early this week. It and gasoline are still much more expensive than they were before the war with Iran began, but hope is rising in financial markets as Iran said it was reviewing the latest U.S. proposals on ending their war.
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