Talk of the Town
It wasn’t made clear what the details of a Facebook message were, but it was enough to arrest 46-year-old Kevin Scott Kessee of Pittsylvania County on charges of making threats of death or bodily injury to the mayor of Altavista, located in Campbell County, just north of the Pittsylvania County line. No other details were made available.
(NEW YORK) — Stocks closed significantly higher on Wednesday, just hours after the U.S. and Iran announced a two-week ceasefire.
The Dow Jones Industrial average surged 1,325 points, or 2.8%, while the S&P 500 climbed 2.5%. The tech-heavy Nasdaq jumped 2.8%.
As part of the accord, Iran says it will allow tankers passage through the Strait of Hormuz, a vital shipping route for oil and gas, as long as they coordinate with the nation’s military.
Investors appeared optimistic that the agreement would ease one of the worst global oil shortages in decades, though the resumption of tanker traffic in the strait remained uncertain.
U.S. oil prices plummeted nearly 15% on Wednesday, registering at about $96 a barrel. Still, the price of oil remained well above pre-war levels of about $67 a barrel.
President Donald Trump touted the ceasefire in a social media post on Wednesday, saying there would be “no enrichment of Uranium,” despite the Iranians claiming that the U.S. agreed to its plan, which includes numerous concessions.
The president added that “the United States will, working with Iran, dig up and remove all of the deeply buried (B-2 Bombers) Nuclear ‘Dust.'”
The Iranian Supreme National Security Council’s statement on Tuesday included “acceptance of enrichment” in its 10-point plan.
Investors will likely pay close attention to a potential uptick in tanker traffic through the Strait of Hormuz.
Following Israeli attacks on Lebanon on Wednesday, oil tankers are suspended from passing through the strait, Iran’s semi-official Fars News Agency reported.
Typically, scores of ships carry a fifth of the world’s oil through the strait each day, but Iran effectively closed the passage over the course of the war. That oil shortage sent crude prices soaring, and it threatened far-reaching price increases that some economists feared could tip the U.S. economy into a recession.
ABC News’ David Brennan, Jon Haworth and Nadine El-Bawab contributed to this report.
Copyright © 2026, ABC Audio. All rights reserved.
(NEW YORK) — Valentine’s Day shoppers may feel jilted by runaway chocolate prices.
Chocolate prices soared 14.4% over the initial weeks of 2026 when compared to the same period a year earlier, nearly doubling the pace of price increases at the start of 2025, according to findings shared with ABC News by intelligence firm Datasembly.
The sharp rise in chocolate prices owes to a cocoa shortage caused primarily by adverse weather and crop disease in West Africa, which accounts for about 70% of the world’s cocoa, some analysts told ABC News.
The dearth of cocoa, analysts said, has ratcheted up input costs for chocolate makers and vaulted retail prices, leading to sticker shock in grocery and candy store aisles.
“There is a record gap between supply and demand,” David Branch, sector manager at the Wells Fargo Agri-Food Institute, told ABC News.
Raw cocoa bean prices have risen dramatically in recent years due to the choke in supply. A metric ton of cocoa beans cost as much $12,000 last year, Branch said. Before the COVID-19 pandemic, cocoa bean prices hovered between $2,000 and $2,500 per metric ton, International Monetary Fund data shows.
In recent months, supply problems have begun to ease, bringing cocoa bean costs down significantly from last year’s peak. A metric ton of cocoa beans now runs about $3,700.
Still, chocolate prices remain highly elevated as chocolate makers sell through candy made with cocoa beans bought earlier, analysts said.
“A lot of manufacturers bought cocoa when prices were high and that’s still very much moving through the supply chain,” David Ortega, a food economist at Michigan State University, told ABC News.
In November, the White House announced framework trade agreements with some Latin American countries in an attempt to ease surging prices for grocery staples such as cocoa. While the U.S. imports a significant share of cocoa from West Africa, supply also comes from Latin American countries like Ecuador, the U.S. Department of Agriculture says.
“Today’s announcements underscore the Administration’s unwavering commitment to fair and balanced trade at every opportunity to protect and strengthen our economic and national security,” the White House said when it unveiled the framework agreements.
Prices remain high for some other imported food items, such as coffee and beef.
Coffee prices surged about 18% in January compared to a year earlier, while ground beef prices climbed more than 17% over that span, Bureau of Labor Statistics data on Friday showed.
Grocery prices are rising at a faster pace than prices overall, climbing 2.9% over the year ending in January, according to BLS data.
Chocolate price hikes will likely ease over the coming months, some analysts said, noting the eventual pass through of lower cocoa prices into the cost of chocolate bought at stores. Analysts emphasized, however, the uncertainty surrounding the outlook due to the chance of weather-related challenges for growers.
Branch, of Wells Fargo, said chocolate prices could even fall by the latter part of this year as manufacturers find cost relief and pass it along to shoppers.
“If market trends stay where they are, we’ll see lower prices for Halloween,” Branch said.
Copyright © 2026, ABC Audio. All rights reserved.
