Brent crude falls 3.6% to $87.27 as stocks edge higher

Oil prices declined for a second session on Tuesday, easing inflation concerns and helping U.S. stocks advance. Brent crude fell 3.6% to $87.27 a barrel after rising in 13 of the previous 14 sessions. The S&P 500 gained 0.3% to 7,677.28, the Dow Jones Industrial Average added 0.3% to 53,577.40 and the Nasdaq composite climbed 0.7% to 26,151.30. The decline came despite higher tensions between the United States and Iran after the Trump administration announced new sanctions targeting Iran’s economy. A Pakistani delegation left Iran after talks on reopening the Strait of Hormuz and reviving negotiations to end the Iran-U.S. conflict. Pakistan Interior Minister Mohsin Naqvi described a meeting with Iranian President Masoud Pezeshkian as "very positive and productive." The 10-year Treasury yield fell to 4.63% from 4.70% late Monday and 4.74% at the end of last week, although it remained above 3.97% before the war with Iran pushed oil prices and inflation concerns higher. Nvidia rose 2.2% ahead of its Wednesday results, helping offset a record 30.7% plunge in Dick’s Sporting Goods after weaker-than-expected quarterly results and a reduced 2026 underlying profit forecast for its Dick’s and Foot Locker businesses. Consumer confidence also weakened more than economists expected, adding to concerns about U.S. household spending and the economy.

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