Producers of metals, grains and other raw materials rose as fears about stagflation simmered.
Precious metals initially fell as inflation fears spurred gains in the U.S. dollar.
Silver futures finished higher as optimism about an end to the war caused the dollar to reverse.
"You're going to see a lot more about stagflation right now," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "It is a possibility, but it doesn't currently seem to be the probability."
Oil prices are famously erratic, Joyce said. If equilibrium returns to the market, prices could quickly return to prewar levels. "The Strait of Hormuz is not going to remain closed forever," said Joyce.
The return of equilibrium to the oil market should be a question of time, "whether that time period be days or weeks, months or years," Joyce said.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-09-26 1750ET
