Fragile Ceasefire Causes Oil Prices To Rise Again

HONG KONG (AP) — Oil prices are rising again and Asian stocks are trading mostly lower on skepticism over a fragile ceasefire between the U.S. and Iran. Brent crude, the international standard, was up more than 2% to above $97 a barrel. Markets in Japan, South Korea and China were all lower Thursday. U.S. futures were also down. Investors are closely watching whether a two-week ceasefire between the U.S. and Iran is already slipping after deadly Israeli strikes on Lebanon. Iran again closed the Strait of Hormuz in response to the attacks in Lebanon. Wall Street closed sharply higher Wednesday after announcement of the temporary ceasefire agreement.