Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.6%), Nasdaq Composite (-1.0%), and DJIA (-0.2%) trade lower across the board heading into the final half hour of the session. 

Crude oil futures settled today's session 3.0% higher at $98.56 per barrel amid lingering hostility in the Strait of Hormuz and uncertainty around a potential end to the war in Iran. After trading down to nearly $92 per barrel this morning, the bounce in oil prices and the subsequent move lower across equities show that the market is still largely at the mercy of rising energy prices.