US stocks edge higher following the latest U-turn for oil prices (opens in new tab)

Hour-to-hour swings for oil prices keep jerking financial markets around, and U.S. stocks wavered Thursday following the latest reversal. All three indexes erased early drops and gained strength following the latest U-turn for oil prices. Brent crude oil briefly got above $109 per barrel in the morning, threatening to worsen the world’s already high inflation, before quickly erasing all its gains in midday trading and falling 2.3% to settle at $102.58.