The price of oil rose rapidly on Tuesday afternoon, local time in Sweden, and immediately the stock market in New York fell.
At the close, the Dow Jones Industrial Average, broad-based S&P 500 index, and tech-heavy Nasdaq Composite index had all fallen 0.6 percent.
The somber mood coincided with the news that Vice President JD Vance is canceling his trip to the mediating country, Pakistan, because Iran has not responded to U.S. negotiating positions.
Futures prices for oil rose rapidly, and North Sea oil now costs $100.42 per barrel after rising 5.2 percent during the day.
The dollar exchange rate rose, as did interest rates on U.S. government bonds of all maturities.
