Oil Prices Bounce; Iran Says Hormuz Opening Hinges On Israel, But S&P 500 Rallies

Crude oil prices plunged more than $20 a barrel from Tuesday's peak after President Donald Trump agreed to a two-week ceasefire and Iran agreed to reopen the Strait of Hormuz. United Airlines, Carnival and fellow cruise and airline stocks still ranked among top S&P 500 winners in morning trade. Gold, silver and copper prices all jumped, fueling gains for Newmont and Freeport-McMoRan, though they came well off their highs.