Oil led a split session for U.S. markets Friday: Brent’s October gain exceeded 10%, while the S&P 500 declined.
Brent peaked at $117.45 before settling at $116.72 a barrel. It was the first time the benchmark had traded above $117 since April.
President Donald Trump raised the possibility of another U.S. strike on Iran but also said the conflict might end soon.
U.S. inflation expectations rose, with the five-year breakeven rate at 2.47%. The 10-year Treasury yield climbed to 4.99%, while the S&P 500 fell 0.5%.
Earlier in the week, Brent settled at $108.79 a barrel Tuesday after reaching $111.99 intraday, according to EconoTimes’ coverage of the session. Traders were then watching U.S.-Iran diplomatic reports and shipping risks in the Strait of Hormuz. No agreement had been announced, that report said.
