New York: Stocks around the world are clawing higher on Wednesday, and the S&P 500 climbed toward its first gain of what’s been a dismal week.
Even the oil market gained ground. Prices for crude have been turned upside down because of how much extra oil is sloshing around following a collapse in demand.
After zig zagging overnight, U.S. oil prices jumped 27% after President Donald Trump threatened the destruction of any Iranian gunboats that harass U.S.
Navy ships, raising the possibility of a drop-off in oil supplies. The S&P 500 was up 1.5% after the first 45 minutes of trading, following milder gains in Europe and Asia.