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Oil prices fell and stocks rose after President Trump's about-face to pause the U.S. operation to escort commercial ships through the Strait of Hormuz
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Lower-income consumers are compensating for higher gas prices by buying less.
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Oil prices drop and stock markets rise after reports of deal to end Iran war BBCLive updates: US and Iran moving toward memo aimed at ending war, source says CNNIran Evaluating US Proposal to End War as China Calls for Peace Bloomberg.comIran War Live Updates: Tehran Says It Is Reviewing U.S. Proposal as Trump Makes New Threats The New York Times
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Trump orders military to pause Strait of Hormuz mission to allow time for peace talks The Washington PostLive updates: Oil prices drop after Trump hails ‘great progress' in Iran talks CNNLive Updates: Iran quiet as Trump says Strait of Hormuz effort paused amid "great progress" toward peace deal CBS NewsMaersk says ship passed through Strait of Hormuz under U.S. military protection CNBC
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Fuel is airlines' second-largest expense, and getting even costlier due to the U.S. war with Iran. Airlines are looking for ways to cope, starting by hiking checked baggage fees for most fliers.
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