Washington, April 29 -- Oil prices saw another surge, as the ongoing Iran war knocked Wall Street off its recent highs on Tuesday, as investors continue facing mounting pressure in energy markets.
The S&P 500 fell 0.5 per cent from its latest all-time high. The Dow Jones Industrial Average dropped 25 points, or 0.1 pc, while the Nasdaq Composite fell 0.9 pc from its own record.
The moves came as oil prices continued their steady climb. Brent crude for June delivery rose 2.8 pc to settle at USD $111.26 a barrel, while the more actively traded July contract gained 2.7 pc to US$104.40.
Prices have risen sharply since late February, when Brent was trading near US$70. They are now approaching the US$119 mark seen earlier during heightened fea...