2 stories on Iran Tensions, newest first.
US stocks rose as semiconductor companies surged and oil prices fell, despite escalating military tensions between the US and Iran. Meanwhile, the housing market showed signs of weakness with June home sales declining even as prices hit record highs, signaling affordability challenges persist.
A major energy consultancy expects up to 75% of oil flows through the critical Strait of Hormuz to return to the market by year-end, easing concerns about a major crude glut. However, analysts don't expect a sharp price drop in 2027, with oil likely to stay in the $50s to low $60s per barrel as long as U.S.-Iran tensions persist.
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