Asian Shares Fall and Oil Prices Hold Steady Above $100 a Barrel
Energy stocks rose as Exxon Mobil and Chevron gained while rising Treasury yields and inflation worries pushed most other sectors lower.
- Wall Street retreated Wednesday as Brent crude surged above $100 a barrel for the first time since July, driven by escalating U.S.-Iran conflict stifling oil flow through the Strait of Hormuz.
- Higher fuel costs cut into household budgets directly and raise prices for goods through shipping costs, as gasoline prices sit about 32% higher than a year ago at $4.22 per gallon.
- Every sector within the benchmark S&P 500 declined except energy, where Exxon Mobil rose 2.2% and Chevron added 1.9%, while retailers like Amazon fell 1.8% amid the broader sell-off.
- Rising yields signal investors are demanding higher returns, with the 10-year Treasury yield hitting 4.85% late Tuesday; markets now lean toward a 62% chance the Federal Reserve will raise benchmark rates next week.
- To contain rising yields, the U.S. Treasury Department said Wednesday it would buy back up to $6 billion in long-term debt, following an August announcement previewing the unusually large intervention.
27 Articles
27 Articles
Asian shares fall and oil prices hold steady above $100 a barrel – WTOP News
BANGKOK (AP) — Asian shares skidded Thursday following a retreat on Wall Street as the price of crude oil again traded above $100 a barrel. U.S. futures were modestly higher. The price of Brent crude jumped 3.4% on Wednesday, surging above $100 a barrel for the first time since July. It fell back slightly early...
Stocks fall on Wall Street as oil prices jump back above $100 a barrel after Iran war escalates - WXXV News 25
Specialists Gregg Maloney, left, and Michael Shearin work on the floor of the New York Stock Exchange in New York, Friday, Aug. 21, 2026. (AP Photo/Yuki Iwamura)By DAMIAN J. TROISE and ALEX VEIGA Stocks on Wall Street lost ground again Wednesday as the price of crude oil climbed back above $100 a barrel amid further escalation in the U.S. war with Iran. The...
Asian Stocks Slide as Oil Prices Hold Above $100 a Barrel
NewsFinale NewsFinale Journal BANGKOK – Asian stock markets moved lower Thursday, tracking losses on Wall Street as renewed pressure from oil prices rattled investors and crude once again climbed above $100 a barrel. U.S. stock futures, however, edged slightly higher, suggesting a steadier start ahead for American markets. Brent crude surged 3.4% on Wednesday, breaking through the $100-a-barrel […]
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