Energy

Stocks also fell as fears over a prolonged conflict deepened.

The president tries to navigate the Iran war and rising gas prices at first rally since strikes began.

The International Energy Agency did not set out a definitive timeline for when the release would begin.

The U.S. said it destroyed 16 ships amid fears Iran could deploy hundreds of mines to effectively boobytrap the critical shipping lane.

The consumer price index rose 0.3% month over month, and 2.4% from one year ago.

U.S. stock markets were also on a roller coaster as investors tracked oil prices and fast-moving developments in the U.S. war in Iran.

A report that President Donald Trump called the war in Iran “very complete, pretty much" sent markets soaring after a week of brutal losses.

The strait gives passage to one-fifth of the world’s oil supply and is a key route for other types of commodities like aluminum, sugar and fertilizer.

Democrats are highlighting prices at the pump when criticizing the strikes, while Republicans say they hope the spike will be short-lived.

The Dow dropped more than 400 points and the S&P 500 fell nearly 1% amid a global sell-off as concerns about the conflict grow.

Global stock indexes dropped sharply in Monday trading, while U.S. markets recovered from an initial decline.