[BRIEFING.COM] The S&P 500 (+0.7%), Nasdaq Composite (+1.2%), and DJIA (+0.4%) are maintaining their opening strength. With the early gains, the S&P 500 now sits just 1.0% below its all-time high of 7,002.28 from January 28.
Bloomberg reported that a sanctioned oil tanker linked to China turned around after testing the U.S. blockade in the Strait of Hormuz.
In other geopolitical news, The Wall Street Journal reported that Turkey will meet with other Gulf nations to discuss proposals designed to end the Iran war.
Crude oil continues to retreat, currently down $5.57 (-5.6%) to $93.51 per barrel.