US EditionUS Futures and Asian Shares Open Lower, Oil Prices Soar
The strikes killed top Iranian leaders and raised fears of oil flow disruptions via the Strait of Hormuz, with Brent crude rising over 6%, analysts say.
- Sunday, March 1's air strikes by the United States and Israel targeted Iran after Iran's Supreme Leader Ayatollah Ali Khamenei was killed on Saturday, February 28.
- Israel and the US pursued a campaign aimed at toppling Iran's government after a massive U.S. force buildup, while Iran spread the conflict to Bahrain, the United Arab Emirates, Qatar, and Kuwait.
- The Strait of Hormuz, just 33 kilometres wide, carries about one-fifth of global oil and more than 150 oil and LNG tankers have anchored outside while U.S. benchmark crude surged 8%.
- Charter rates and insurance premiums have spiked, lifting freight costs and war-risk insurance charges, while OPEC said it would add 206,000 barrels per day on Sunday.
- Analysts warn Brent could rise above $73 and perhaps to $100 per barrel if the conflict persists, raising fuel prices and risking higher global inflation and stagflation.
52 Articles
52 Articles
Oil markets are preparing for strong price increases after attacks on Iran and Tehran's retaliation. Iran is an important oil producer, but traders are alarmed for another reason.
The shares plummeted this Monday after the U.S. and Israel attacked Iran over the weekend, resulting in a sudden rise in oil prices and added instability in the Middle East to the growing list of concerns for equity investors. The Dow Jones Industrial Average yielded 543 points, or 1.1%. The S&P 500 lost 1.1% and the futures of the Nasdaq Composite dropped 1.6%. Gold futures rose 2% as investors turned into this active global shelter. The CBOE V…
Is ConocoPhillips Stock Going to $200?
Key PointsConocoPhillips expects to nearly double its free cash flow by 2029 at $70 oil.Oil prices could surge to $100 a barrel if Iran closes the Strait of Hormuz or attacks oil infrastructure in the Persian Gulf.ConocoPhillips' free cash flow should grow even faster as it continues to repurchase its shares. 10 stocks we like better than ConocoPhillips › Shares of ConocoPhillips (NYSE: COP) have gotten off to a hot start in 2026. The U.S. oil a…
The market's reaction to the war and the stoppage in the Strait of Hormuz. At the same time, the price of gold is now rising sharply again.
Oil prices surge, Asian stocks fall over Iran conflict
Oil prices soared and stocks fell in Asia on Monday on the back of turmoil in the Middle East after US and Israeli strikes on Iran, with the vital Strait of Hormuz effectively shut and several ships attacked.
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