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Stocks leap worldwide, and oil prices drop

NEW YORK (AP) — Stock markets are rallying worldwide Monday, and oil prices are easing after the United States and Iran reached a tentative deal to extend their ceasefire and reopen the Strait of Hormuz to get the global flow of crude going again. The S&P 500 rose 1.5% on hopes that this time, the announcement of an Iran-U.S. agreement will mean a long-term fix to a conflict that has sent inflation painfully upward for the entire world. The Dow Jones Industrial Average was up 611 points, or 1.2%, as of 10 a.m. Eastern time, and the Nasdaq composite was 2.4% higher. Stocks got a lift ...

It could take weeks or months for oil to fully flow

FRANKFURT, Germany (AP) — The tentative agreement to end the war in Iran and reopen the Strait of Hormuz would be good news for the global economy. But even as the price of oil dropped Monday, many questions remained about when and how it would start flowing again through the world’s most vital artery for energy shipments. Before the war, the strait carried a fifth of the world’s crude oil. Now, it will take time for hundreds of ships trapped in the Persian Gulf to exit through the narrow strait. And Gulf oil producers that throttled back production will need time to get the oil ...

Northeast Ohio gas prices jump 7 cents

Pump prices remain at four-year highs as the market reacts to news the U.S. and Iran have agreed to reopen the Strait of Hormuz. In Monday’s AAA East Central’s Gas Price Report, the organization reported the national average fell for the third straight week. However, in Northeast Ohio, prices were 7 cents higher at $4.218 per gallon. At this time last year, fuel prices averaged $3.116 per gallon. The average price in Niles on Monday was $4.055 per gallon and $4.153 in Youngstown, the AAA reported. At the intersection of North Road and East Market Street in Warren, regular fuel ...

Business briefs

INTERN PARTICIPANTS NAMED: Twelve business students have been selected to participate in the 2026 Ohio Export Internship Program in the Williamson College of Business Administration at Youngstown State University. Students selected for this competitive program completed specialized coursework in exporting this spring semester and have been matched with an Ohio company for a paid, full-time summer internship. Internship projects include export compliance and export compliance manual development, foreign market expansion, shipping and logistics, Harmonized Tariff Schedule ...

Broken speaker? Repair Cafes urge you to fix it instead of pitch it

NEW PALTZ, N.Y. (AP) — On a drizzly Saturday morning late last month, the basement of the New Paltz United Methodist Church filled with old lamps, blunt knives, malfunctioning sound mixers and balky zippers. About a dozen volunteers welcomed the broken goods and their owners to a worldwide ...