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Wall Street mixed, oil prices steady

(AP) — Wall Street hovered around yesterday’s levels and oil prices barely budged early Friday amid a shaky ceasefire agreement between the U.S. and Iran, which maintained its stranglehold on the Strait of Hormuz.

Futures for the S&P 500 were flat before the opening bell, while futures for the Dow Jones Industrial Average inched down less than 0.1%. Nasdaq futures gained less than 0.1%.

Iran’s semiofficial Tasnim news agency, close to the Revolutionary Guard, claimed that talks wouldn’t happen unless Israel stopped its attacks in Lebanon. U.S. President Donald Trump complained that Iran was “doing a very poor job” by not allowing the free flow of ships through the strait, through which 20% of the world’s traded oil once passed.

Ahead of the talks, deadly Israeli strikes on Lebanon raised questions whether the two-week ceasefire in the Iran war is still intact, while the Islamic Republic maintained control over the Strait of Hormuz, which is largely closed despite demands from the U.S. to reopen the waterway critical for global oil and gas transport.

Israeli Prime Minister Benjamin Netanyahu said he had authorized talks with Lebanon, with negotiations said to be expected in Washington next week.

Oil prices inched up modestly on early Friday. Brent crude, the international standard, was up 12 cents at $96.04 per barrel. Benchmark U.S. crude ticked up 33 cents to $98.20 a barrel.

Starting at $3.92/week.

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