S&P 500 gains 0.66% on Monday as WTI falls to $89.43
US stocks rose on Monday, October 5, with the S&P 500 closing at 7,773.95, up 0.66 percent. WTI crude fell 1.84 percent to $89.43 a barrel and gold dipped 0.13 percent to $4,156.8 (market data). Iran said on Sunday that Hormuz would stay closed (Arab News, Oman Observer). A secondary site put Brent near $102.60; that is single-sourced.
Lower crude and higher US stocks ease some pressure on oil importers, though the Hormuz dispute is unresolved.
A lower oil price may feed into petrol prices after a delay; it does not guarantee a cut.
Investors see a soft jobs report as a sign rates may stay low.
Others warn that oil can jump again on any headline.
One day's move is not a trend. Watch Brent and the Hormuz headlines.
DailyDrop Nigeria edition No. 2 · Morning · TUE., OCT. 6, 2026