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Stocks Whipsawed by Oil Volatility as War Drags On | Closing Bell

Watch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. Volatility whipsawed stocks as traders parsed conflicting signals about the outlook for oil supplies as the war in Iran rattles energy markets. In late hours, Oracle Corp. jumped on a strong sales forecast. The S&P 500 wiped out its advance. US crude trimmed a plunge that briefly drove it below $80 as the White House said no tanker has been escorted by the navy through the Strait of Hormuz, refuting an earlier, since-deleted social media post by Energy Secretary Chris Wright. Oil still sank 12%, the most since 2022, as big economies mull deploying stockpiles to avoid a crunch. The S&P 500 fell 0.2%. West Texas Intermediate settled near $83. The yield on 10-year Treasuries rose five basis points to 4.15%. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X:   / bloombergradio   Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts:    / bloombergpodcasts   Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloombergquicktake