As oil surges, US stocks drift sideways in another muted day
(WorldNews Business)

NEW YORK (AP) - The price of crude oil surged Monday after the U.S. government moved to further block Iranian oil exports. That helped to lift energy stocks, but losses elsewhere in the market held U.S. indexes in check. The S&P 500 flip-flopped between modest gains and losses in morning trading, much as it has the last few weeks. The Trump administration said it will no longer exempt any countries from U.S. sanctions if they continue to buy Iranian oil, including China and Japan, the world`s second and third largest economies. That helped the price of benchmark U.S. crude touch its highest level since October, and energy stocks in the S&P 500 jumped 1.7%. Most other areas of the...