New Delhi, April 16 -- US equity indices retreated on Thursday, as crude oil prices surged amid hopes for a potential ceasefire extension between the US and Iran.

At 10:06 a.m. ET, the Dow Jones Industrial Average fell 60.68 points, or 0.13%, to 48,403.04, the S&P 500 lost 5.45 points, or 0.08%, to 7,017.50 and the Nasdaq Composite lost 67.64 points, or 0.28%, to 23,948.38.

At the open, the Dow Jones Industrial Average rose 94.1 points, or 0.19%, to 48,557.82. The S&P 500 rose 14.8 points, or 0.21%, to 7,037.78​, while the Nasdaq Composite rose 46.4 points, or 0.19%, to 24,062.454.

Indications of renewed diplomatic negotiations intended to conclude the conflict involving the US, Israel, and Iran have propelled stock benchmarks to...