US stocks were mixed and oil prices held above $100 a barrel after a temporary lift on Russian energy sanctions. The White House announced that the temporary halt would only apply to oil already in transit and not provide significant financial benefit to the Russian government. Investors were hoping this would alleviate price pressures from Iran's blockade of the Strait of Hormuz, a vital route for 20% of the world's oil supply. National average gasoline prices also rose by over 20% over the past month. Investors are also anticipating a potentially prolonged conflict in Iran, with President Trump stating that the US has plenty of time to fight the war. Despite this, analysts have warned that oil prices could remain elevated even if the conflict ends soon, as it takes time to fix damaged infrastructure and restart oil field production overseas.