Stocks rebound and oil whipsaws after briefly smashing through $100 per barrel | CNN Business

US stocks recovered losses Monday and oil prices plummeted after settling at their highest level since 2022, as the war with Iran continued to roil markets. It was a volatile 24 hours in markets. US crude oil prices soared to nearly $120 per barrel late Sunday before settling at roughly $95 Monday afternoon. Oil then dropped to $86 per barrel by 4 p.m. ET as President Donald Trump told CBS he thinks “the war is very complete.” The Dow closed higher by 239 points, or 0.5%, recouping losses and turning into the green after dropping 886 points earlier. The S&P 500 gained 0.83%, and the Nasdaq Composite rose 1.38%, both recovering from losses earlier in the day. Earlier in the session, US crude oil settled higher by 4.26%, to $94.77 per barrel, paring gains after climbing to nearly $120 per barrel late Sunday. Brent crude, the international benchmark, settled up 6.76%, to $98.96 per barrel, after nearly hitting $120. Oil prices mark their daily settle price at 2:30 p.m., while stocks close at 4 p.m. ET. After settling on Monday, oil prices then dropped sharply as Trump told CBS he thinks “the war is very complete,” helping ease market jitters and fueling a rebound in stocks. US