Global stocks climbed Tuesday for a second consecutive day, despite ongoing tensions in Iran pushing oil prices higher and upcoming policy announcements from international central banks this week.
US crude oil surged to $95.63 per barrel, a gain of 2.28%, while Brent crude rose to $102.81 per barrel, up by 2.59%. Both indexes had retreated slightly from earlier gains of about 5%, but remained over 40% higher for the month.
In New York, US stocks were positive, with the S&P 500 energy index rising by 1.4%. Airline and travel sectors also benefited as Delta Airlines and American Airlines reported robust spring demand despite increased fuel costs.
The Dow Jones Industrial Average climbed 137.81 points, or 0.29%, to 47,083.55; the S&P 500 gained 27.45 points, or 0.40%, reaching 6,726.24; and the Nasdaq Composite rose by 119.96 points, or 0.53%, to 22,493.75.
MSCI’s global stocks index increased by 6.47 points, or 0.63%, to 1,014.53, marking its first consecutive gains in three weeks. The STOXX 600 across Europe also rose by 0.67%, driven by energy and utilities sectors.
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