Middle East conflict fears weigh on wall street as energy prices surge

New Delhi [India], August 11 (ANI): US stocks closed lower on August 10 as investors became less confident about a resolution to reopen the Strait of Hormuz, according to a Reuters report. Energy supply concerns pushed US crude oil prices up about 5 per cent. Reopening the flow through the Strait could ease concerns over energy prices that have raised worries about inflation and potential central bank rate hikes.