US Stock Markets Gain as Oil Prices Drop

(MENAFN) US equities closed higher on the first trading day of the week, supported by a decline in oil prices.

Despite persistent geopolitical unrest in the Middle East, financial markets exhibited upward momentum.

Following US airstrikes on three Iranian nuclear facilities on Sunday, Iran retaliated on Monday by launching a missile strike targeting Al Udeid Air Base in Qatar, the largest American military installation in the region.

In a social media post, US President Donald Trump expressed gratitude to Iran for providing Washington with prior warning of the assault, noting that this advance notice averted any casualties or injuries.

“Perhaps Iran can now proceed to peace and harmony in the region, and I will enthusiastically encourage Israel to do the same,” he remarked.

Oil prices decreased after Iran’s reprisal did not cause any fatalities.

Brent crude prices dropped approximately 7.2 percent, settling at USD71.48 per barrel.

The Dow Jones Industrial Average climbed 0.89 percent, adding 374.96 points to finish at 42,581.78.

The Nasdaq Composite increased by 0.94 percent, gaining 183.56 points to reach 19,630.98, while the S&P 500 advanced 0.96 percent, or 57.33 points, closing at 6,025.17.

The VIX Index, often referred to as the “fear index,” decreased by 3.83 percent, landing at 19.83.

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