Oil Prices Jump As Iran Keeps Hormuz Closed Amid Fragile Ceasefire; S&P 500 Futures Slip

U.S. crude oil prices neared $100 a barrel early Thursday amid reports that shipping traffic has yet to pick up through the Strait of Hormuz. Iran said Wednesday that the strait, a critical choke point for oil tankers, would remain closed to most traffic until Israel ends its attacks on Hezbollah in Lebanon, which the regime says violate the ceasefire. S&P 500 futures slipped, but held most of the ground gained in Wednesday's major relief rally, as investors awaited additional news on the ceasefire.