By Caitlin McCabe
Oil prices steadied and U.S. stock indexes retreated Friday as the U.S. intensified efforts to reopen the Strait of Hormuz and avert a full-blown energy crisis.
Brent crude oil futures, the international benchmark, were recently up slightly at around $109 a barrel. Prices touched $119 early Thursday but fell back later in the day.
U.S. stocks fell, after two days of losses for all three major stock indexes. All three are on track to fall for a fourth straight week. The Stoxx Europe 600 turned lower, wiping out morning gains, while Asian indexes mostly fell.
Gold slipped, after a selloff that sent the precious metal falling for six of the last seven days. Treasury yields rose alongside the U.S. dollar.
On Thursday, U.S. officials sought to calm markets, with Treasury Secretary Scott Bessent saying the U.S. is considering removing sanctions from Iranian oil at sea. That would free up about 140 million barrels of oil and offer some reprieve to U.S. allies.
Israeli Prime Minister Benjamin Netanyahu also said Israel would hold off on future strikes against an Iranian gas facility at President Trump's request.
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(END) Dow Jones Newswires
March 20, 2026 12:07 ET (16:07 GMT)
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