Choppy oil keeps investors on edge, stocks brace for big earnings week

The short-term focus again was oil prices, which swung sharply as investors weighed Yemen's Iran-aligned Houthis declaring a naval blockade against ‌Saudi Arabia against ⁠Reuters reporting that ⁠mediators had passed Iran a proposal to de-escalate the war with the U.S. Benchmark Brent crude was flat on the day at $88.3 a barrel, having earlier climbed above $90 for the first ​time in more than a month.