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March 3, 2026

Stocks erase sharp losses, while oil prices leap

By STAN CHOE
AP Business Writer

NEW YORK — Oil prices leaped Monday on worries that war with Iran could clog the global flow of crude and make inflation even worse. U.S. stocks, meanwhile, swung from sharp losses to a tiny gain.

Crude prices jumped more than 6%, which will likely mean higher prices soon at gasoline pumps. That would hurt not only U.S. households, whose spending makes up the bulk of the U.S. economy, but also businesses with big fuel bills.


 
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