Wall Street's three main indices have closed slightly higher after a choppy session as oil prices lost ground, with some officials citing progress in US-Iran peace talks even as both sides took opposing stances over an Iranian uranium stockpile and control of the Strait of Hormuz.
After spending the morning in the red, stocks clawed their way back to gains in afternoon trading while oil prices shifted from a rally to a decline.
While US Secretary of State Marco Rubio told reporters there had been "some good signs" in talks with Iran, he also said a diplomatic deal between the US. and Iran would be unfeasible if the Middle Eastern country implemented a tolling system in the Strait of Hormuz, which is a key conduit for oil transportation.
