US EditionStocks slump and oil prices leap as war in the Middle East raises worries about high inflation
Oil prices surged up to 13% amid Middle East military strikes, while global stocks dropped and gold rose as markets feared supply disruptions and inflation risks.
- On Monday, crude oil markets jumped more than 5% amid Middle East war fears, while the U.S. stock market indices swung intraday between sharp early losses and a small gain.
- Supply shocks from halted LNG production and escalating Iran–Israel fighting tightened energy markets, sending European natural gas prices up more than 50.
- Brent crude rose 6.2% to $77.36 per barrel after futures earlier spiked toward higher session levels, while U.S. West Texas Intermediate crude climbed 5.7% to $70.86.
- Energy and defense names rose and helped pare Wall Street declines, with Exxon Mobil up 1.4%, Occidental Petroleum 1.9%, Lockheed Martin 2.2%, RTX 4.6%, while the 10-year Treasury yield rose to 4.04%.
- Morgan Stanley strategists warn that oil would likely need to top $100 to cause sustained U.S. stock declines, while the S&P 500 has averaged gains after geopolitical shocks and sustained energy prices could complicate Federal Reserve policy and President Donald Trump's outlook.
215 Articles
215 Articles
Oil prices surge, dollar rallies as Middle East war shakes global markets
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An Iranian Challenge to the US Economy
Even before last weekend’s US-Israeli strike on Iran, the US economy and its stock market were challenged by a heightened degree of economic uncertainty. The Iranian war will now add considerably to that uncertainty, not least by raising the prospect of an international oil price spike. This does not bode well for the US economic outlook, and it could be the trigger for a sharp stock market correction. That, in turn, could seriously damage Trump…
Tension between the United States, Israel and Iran is already beginning to feel in international markets and Panama is no exception. The price of Texas crude, a reference used to set local fuel prices, registered an increase ranging from 7% to 10% from the last value, reflecting the uncertainty generated by the conflict.
Oil prices leap on worries about Iran war, while US stocks trim their sharp losses
Oil prices are leaping with worries that the Iran war will clog the global flow of crude and make inflation even worse. U.S. stocks, meanwhile, are swinging between sharp losses and a tiny gain on Monday. The S&P 500 fell…
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