Oil Prices Climb and Stocks Dip on Stalemate in Iran War

Oil prices rose and stocks were down slightly on Sunday as hopes were dashed for a breakthrough in the standoff over the Strait of Hormuz.

At the end of last week, Iran and Oman indicated that they were near an agreement that would allow oil and other important commercial traffic to resume. But on Saturday, Iran issued a long list of demands that it said would have to be met before ships could move again through the strait, and it was clear that Iran wanted to continue to use the strait as leverage.