US stocks closed mostly higher on a volatile Thursday as markets continuously gauged how the surge in energy prices may impact corporate returns. The S&P 500 and the Nasdaq 100 inched higher by 0.3%, while the Dow closed flat. Global crude oil prices surged after President Trump delivered formal warnings of escalated attacks on Iran over the next weeks, prompting a retaliatory response by Tehran, with dated Brent prices notching their highest since 2008. Still, equities recovered from session lows on reports that Iran and Oman are coordinating a toll for tankers leaving the Persian Gulf, alleviating the magnitude of the current energy shock. Tech giants inched higher in tandem with Treasuries, with Nvidia, Microsoft, and AMD gaining between 3% and 1%. Meanwhile, Tesla sank 5.4% after it posted one of its worst sales quarter in recent years. Blue Owl lost 1.6% as it faced redemption requests of 41% in private credit funds, forcing it to cap liquidation on added turmoil in the sector.