US EditionPublished • loading... • Updated
Dow tumbles 800 points as oil soars past $100 a barrel
Renewed Middle East conflict drives oil above $100 per barrel, causing a 1.6% drop in the Dow and raising inflation concerns, analysts say.
- On Thursday, the war with Iran sent oil prices back to $100 per barrel and stocks sank worldwide, with Brent crude briefly touching $101.59.
- The Strait of Hormuz, which handles roughly 20% of global oil, faces supply worries as Ayatollah Mojtaba Khamenei vowed attacks and effective closure leverage against the U.S. and Israel.
- The International Energy Agency said Wednesday its members would release a record 400 million barrels from emergency reserves, while Brent crude surged near $120 earlier this week.
- Market moves pushed up Treasury yields and raised borrowing costs such as mortgages and bond financing for companies, as traders pushed back forecasts for Fed rate cuts.
- Analysts say if the Strait of Hormuz remains closed, oil prices could jump to $150, while economists warn of stagflation risk amid last month hiring report weakness.
Insights by Ground AI
Podcasts & Opinions
168 Articles
168 Articles
Brent's oil barrel — the reference in Europe — for delivery in May has risen by 2.67% this Friday and has closed over 103 dollars a barrel one of its most volatile weeks in recent years, shaken by the war of the United States and Israel against Iran and the regional escalation in the Middle East.
·Spain
Read Full Article
The Independent OnlineReposted by 
TelegraphHerald.com
TelegraphHerald.comUS stocks stabilize some more after turbulence brought on by the war with Iran
Stocks continued to stabilize on Wall Street after some turbulence earlier this week. A spike in crude oil prices brought on by the war with Iran has been causing disruptions in global markets, but those prices eased early Friday, bringing…
·Kentucky, United States
Read Full Article
Coverage Details
Total News Sources168
Leaning Left32Leaning Right21Center44Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 33%
C 45%
R 22%
Factuality
To view factuality data please Upgrade to Premium
