U.S. Stocks Fall from their Records as Oil Prices Yo-yo

U.S. stocks fell from their records Thursday after oil prices yo-yoed as Wall Street waits to see whether its hopes for a deal to end the Iran war are warranted or just wishful.

The price for a barrel of Brent crude oil settled at $100.06, down 1.2 percent, and continued its decline from more than $115 early this week. But it swung sharply before getting there, as Iran said it was reviewing the latest U.S. proposals on ending their war.

The hope is that an end to the war will reopen the Strait of Hormuz and allow oil tankers trapped in the Persian Gulf to deliver crude again to customers. Oil and gasoline are still much more expensive than they were before the war began because of the strait's closure.

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