Oil prices keep falling, while US stocks hang near their record highs

NEW YORK (AP) — The U.S. stock market is holding near its records Thursday as oil prices keep dropping on hopes that a deal may be nearing to allow tankers to deliver crude once again from the Persian Gulf to customers. The price for a barrel of Brent crude oil, the international standard, fell another 3.2 percent to $97.98, down from more than $115 early this week. It and gasoline are still much more expensive than they were before the war with Iran began, but hope is rising in financial markets as Iran said it was reviewing the latest U.S. proposals on ending their war. On Wall Street, the S&P 500 added 0.2 percent to its all-time high set the day before after a spokesperson for Pakistan’s Foreign Ministry said, “We expect an agreement sooner rather than later.” Pakistan has been acting as a mediator between the United States and Iran, and the hope is that they will reopen the Strait of Hormuz. Its closure during the war has kept oil tankers trapped in the Persian Gulf and sent prices higher for crude and all kinds of products. The Dow Jones Industrial Average was down 69 poin

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