Oil prices climbed on Wednesday after the latest escalation in fighting raised concerns about the future of the US-Iran ceasefire, while US stocks pulled back from record highs.

Oil prices are rising following the latest fighting to threaten the U.S.-Iran ceasefire, but Wall Street isn’t very worried, and U.S. stocks are hanging around their records.

Oil prices jumped and equities struggled on Monday as Middle East peace talks stumbled and tensions mounted between Iran and the United States.Crude futures shot around seven…