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Oil rises as stocks fall amid stalled Middle East peace hopes

Investors grew concerned as efforts to end the Middle East crisis showed little progress, lifting oil while weighing on stocks.

Published Apr 23, 2026, 10:51 PM EDT | WFMZZ

Oil prices extended gains Friday while stocks struggled as investors worried about a lack of progress in ending the Middle East crisis. Tehran kept the Strait of Hormuz closed and the US maintained a blockade of Iranian ports, heightening market concerns.