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Stock impact report

Oil surges, stocks mixed as Trump dashes hopes of quick end of war [Yahoo! Finance]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Oil prices surged Thursday after US President Donald Trump threatened more heavy strikes on Iran, while global equity markets reacted indecisively to the latest developments in the conflict. In a prime-time address Wednesday night, Trump warned that more bombing could take Iran "back to the Stone Ages" but offered no solution on the reopening the Strait of Hormuz, a key shipping lane for the world's oil and gas. Oil prices shot higher, lifting both major benchmarks to about $110 a barrel by the end of the day. "Trump's much-anticipated address delivered little to nothing new on potential timelines or conditions for ending hostilities against Iran," said Deutsche Bank managing director Jim Reid. "There was no signal of the US seeking an imminent off-ramp out of the war." US stocks began the session sharply lower, but later regained their footing, with two of the three major indices ending narrowly positive. “It's as if the equity market is a bigger believer that we're closer Show less Read more
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