Oil Drops As U.S. Says Ceasefire Is Not Over And Guarantees Passage For a Ship Through Strait Of Hormuz
Benchmark crude fell after Monday’s surge as traders weighed the risk of supply disruptions and Goldman Sachs warned inventories could tighten.
5 Articles
5 Articles
Oil Drops As U.S. Says Ceasefire Is Not Over And Guarantees Passage For a Ship Through Strait Of Hormuz
Oil prices dropped on Tuesday after the U.S. said the ceasefire with Iran is not over despite Tehran's attacks and Washington guaranteeing passage for a ship through the Strait of Hormuz.
The new escalation of tension centered on the Strait of Hormuz pressured stocks and bonds and reignited the oil rally, raising fears of inflation and a lingering impact on the global economy.
Oil prices slide 3% as fragile US-Iran ceasefire holds, ship passes through Strait of Hormuz
NEW YORK: Oil prices fell about 3% on Tuesday with at least one vessel passing through the Strait of Hormuz after the United States said the ceasefire with Iran remained in place despite exchanges of fire between the U.S. and Iran following a U.S. effort to reopen the strait for oil tankers and other ships. Brent futures fell $3.43, or 3.0%, to $111.01 a barrel at 10:29 a.m. EDT (1429 GMT), while U.S. West Texas Intermediate (WTI) crude fell $4.…
Dow Jones Today: Blue-Chip Index Slides 500 Points as Oil Shock Hits Wall Street
The Dow Jones fell over 500 points midday Monday as oil prices surged past $114 a barrel after reports of missile strikes and naval tension near the Strait of Hormuz. The S&P 500 and Nasdaq, coming off record highs, also slipped. UPS and FedEx shares dropped more than 6% after Amazon announced plans to open its shipping network to outside businesses. The CBOE Volatility Index climbed to 18.39. The post Dow Jones Today: Blue-Chip Index Slides 500…
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