Stock Market Update

[BRIEFING.COM] The major averages remain firmly lower as this week's action draws to a close.

Crude oil futures settled today's session $5.08 higher (+5.4%) at $99.51 per barrel, with a steady climb over the past several days negating nearly all of the dip from earlier in the week. 

The New York Times recently reported that France, the U.K., and other European allies are weighing a naval escort plan to protect tankers in the Strait of Hormuz.