business
US stocks rise within 0.5% of their record, even as oil prices keep climbing
By Associated Press at Odessa American (oaoa.com)
· July 15, 2026
· 4 min read
By STAN CHOE
AP Business Writer
NEW YORK U.S. stocks ticked higher Wednesday following strong profit reports from BlackRock and other big companies. The tentative gains came as oil prices swung to their highest levels in a month because of the war with Iran.
The S&P 500 rose 0.4% after flipping ...
Key takeaway The Dow Jones Industrial Average added 150 points, or 0.
Why this matters in The Odessa
The Permian Basin's economy, heavily reliant on the oil industry, is likely to feel the effects of rising oil prices, which have reached their highest levels in a month due to the war with Iran. While US stocks are nearing record highs, the increase in oil prices could lead to higher production costs for local oil companies, potentially impacting their bottom line. On the other hand, the slowdown in inflation reported in recent days may alleviate some pressure on the Federal Reserve to raise interest rates, which could have slowed the economy and hurt investment prices. For Odessa , this means that the current economic momentum may continue, with the potential for increased economic activity and job growth in the oil and gas sector. However, the city's residents will be watching closely to see how these national trends play out locally, and how they may impact the cost of living and doing business in the area.
About this story
Original reporting by Odessa American (oaoa.com) . The Odessa surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit Odessa American (oaoa.com) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: July 15, 2026 ·
Source: Odessa American (oaoa.com) ·
Reading time: 4 min
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Frequently asked about this story
What is this story about? By STAN CHOE
AP Business Writer
NEW YORK U.S. stocks ticked higher Wednesday following strong profit reports from BlackRock and other big companies. The tentative gains came as oil prices swung to their highest levels in a month because of the war with Iran.
The S&P 500 rose 0.4% after flipping ...
When was this published? This article was first published on July 15, 2026 by Odessa American (oaoa.com) and curated for The Odessa readers.
Who reported this story? This story was reported by Associated Press at Odessa American (oaoa.com). To learn more about how The Odessa selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The Odessa, or browse our daily briefing and topic hubs .
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