NEW YORK (AP) — Stocks rose, and oil prices eased Thursday as financial markets calmed in the wait to see what will come next after President Donald Trump raised doubts about the temporary truce in the war with Iran.

The S&P 500 climbed 0.8% and more than recovered its loss from the day before, even though the United States launched new airstrikes against Iran, which responded by targeting U.S. allies in the Middle East. The Dow Jones Industrial Average added 139 points, or 0.3%, and the Nasdaq composite rallied 1.3%.

In the oil market, prices gave back much of their jumps from the day before. The price for a barrel of Brent crude, the international standard, fell 2.2% to $76.30. That’s down from $78.02 the day before though still above its $71.80 price from the end of last week.

The worry is that a return to full-blown war will block oil tankers from the Strait of Hormuz and prevent the delivery of crude from the Persian Gulf to customers worldwide. That could worsen inflation, which economists expected would ease with oil prices, and in turn force the Federal Reserve and other central banks to raise interest rates.

Higher rates can keep a lid on inflation, but they also slow the economy and hurt prices for all kinds of investments.

But Trump also said Wednesday that the latest back-and-forth fighting would not result in “long-term” military action, raising uncertainty about just what will happen.

The swings for oil prices halted what had been a steady decline in gasoline prices, and the cost for a gallon climbed a nickel overnight, according to motor club AAA. The average price for a gallon of regular gasoline was $3.85 Thursday, up 68 cents from a year earlier.

In the meantime, renewed strength for makers of computer chips and other winners of the boom around artificial-intelligence technology helped to support stock markets worldwide.

In South Korea, whose stock market is dominated by two companies that make semiconductors, the Kospi index rose 0.6% after tumbling 5.3% the day before. SK Hynix, which is preparing to sell shares of its stock that will trade in the United States, jumped 5.3% in Seoul.