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Options trader Steven Rodriguez, center, works on the floor of the New York Stock Exchange, Monday, May 11, 2026.

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Oil prices rise as the Iran war drags on, but US stocks hang near their records

Oil prices rise as the Iran war drags on, but US stocks hang near their records

Oil prices are rising as the war with Iran threatens to drag on, but U.S. stocks are nevertheless hanging near their records. The price for a barrel of Brent crude oil climbed 2.9% to top $104 Monday after President Donald Trump called Iran’s latest proposal to end their war totally unacceptable. The rejection keeps the two sides in an uneasy limbo, one that has already driven the price of Brent up from roughly $70 per barrel before the war. But the S&P 500 added 0.1% to its record set Friday. The Dow rose 14 points, and the Nasdaq composite was virtually unchanged.