The US stock market recorded mixed movements for the second consecutive day in the trading session on Thursday as global oil prices rose again.
This situation has sparked continued concerns about rising inflation rates.
The price of West Texas Intermediate (WTI) crude oil surged back above $90 a barrel, driven by the prospect of a protracted war with Iran overshadowing the release of oil reserves coordinated by major economies.
Market sentiment also assessed that the release of emergency oil reserves would not be enough, even though the International Energy Agency (IEA) agreed to release 400 million barrels of their crude oil.
It also includes 172 million barrels from the US that will take about 120 days to be delivered.
Turning to the performance of the main indices, the Dow Jones fell 0.61%, the S&P 500 declined 0.08%, while the Nasdaq Composite rose slightly by 0.08%.
Eight of the 11 sectors closed lower, while the energy, technology and communication services sectors closed in the red.
At the same time, clean energy funds hit record highs, supported by investors' strategic moves to find alternatives to the uncertainty of fossil fuel supplies due to ongoing regional conflicts.
