Stocks rose and the price of oil dropped on Monday morning in the wake of a weekend deal between the Iran, the U.S. and other world powers to limit Iran’s nuclear program.
The price of benchmark U.S. crude dropped 76 cents, nearly 1 one percent, to $94.08 a barrel Monday morning, after world powers reached a deal that could reduce the risk of conflict in the oil-rich region and allow Iran to export its oil. Meanwhile stocks were mostly up on Monday morning, with the Dow Jones rising 38 points, or 0.2 percent, and Standard & Poor’s 500 index rising one point, or 0.1 percent.