Finance

Crude oil prices ticked up sharply, with Brent crude rising nearly 4% during Thursday's trading session. Market volatility spiked following reports that an Iranian parliamentary committee is reviewing a bill to restrict hostile vessels from traversing the critical Strait of Hormuz waterway.

Shares of the rocket manufacturer rose 6.1% despite a major post-IPO lockup expiration freeing up more than 900 million shares for insider trading. Bullish option activity from large-scale traders signals growing confidence that the stock has found a near-term price floor.

Spot gold traded steadily around $4,244 per ounce after logging its largest single-day percentage gain in months earlier in the week. Preceding gains were heavily supported by softer macroeconomic labor data, which has dampened expectations for near-term Federal Reserve interest rate hikes.