US EditionStocks Recoup Losses and Oil Pares Gains After Smashing Through $100 per Barrel
Oil prices briefly hit nearly $120 per barrel amid Middle East war fears, threatening supply via the Strait of Hormuz and triggering global market losses, experts warn.
- On Monday, Brent crude briefly touched $119.50 as oil surged above $100 and the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all fell.
- Since Feb 28, tanker traffic through the Strait of Hormuz has effectively halted, threatening about 20% of global oil flows after US and Israeli strikes damaged regional infrastructure.
- Companies with big fuel bills were hit hard, with Carnival losing 7.3%, United Airlines falling 6.9%, and Old Dominion Freight down 3.8%, as oil pared gains to $101.76 and US crude fell to $99.59.
- The G7 finance ministers and the International Energy Agency discussed releasing strategic petroleum reserves, with a further meeting scheduled on Tuesday, while Trump called the price surge 'a very small price to pay' for security.
- Looking ahead, the loss of spare capacity suggests stagflation risk, though Sameer Samana of Wells Fargo Investment Institute expects the shortage to ease in the coming months as supply rises.
19 Articles
19 Articles
Mankato Free Press
WWAY TVUS stocks hold steadier as Wall Street waits for the next signal on how long the Iran war may last
The U.S. stock market is holding relatively steady, for now, following sharp swings up and down since the war with Iran began and sent oil prices spurting. The S&P 500 was flat in early trading Tuesday, a day after careening…
However, the gains remained very close to the losses observed on Tuesday, when oil prices reached close to US$ 120 per barrel before returning to close to US$ 90
US stocks still haven’t gone into panic mode
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The global economy is facing its biggest shock since the depths of the pandemic as oil prices soar to almost US$120 a barrel. It’s wiped billions off equity markets. Fears are growing that the war against Iran could plunge the United States and many other economies into recession. Overnight, oil prices eased back to just under US$100 after finance ministers from G7 countries including the US, UK and Canada said they would take “all necessary” me…
Trump Dismisses Oil Spike Fears and Calls Critics 'Fools' as Other Countries Scramble for Oil Reserves
President Donald Trump has sparked backlash after branding concerns over skyrocketing energy costs as 'foolish', even as global markets reel from the most violent oil price swing since 2022. Following a series of US and Israeli airstrikes on Iranian infrastructure, Brent crude surged by 25% on 9 March 2026, briefly touching $119.50 a barrel. While the G7 and the International Energy Agency (IEA) convened an emergency session to coordinate a mass…
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