US EditionUS Stocks Pare Their Losses as Oil Prices Recede After Briefly Topping $119 per Barrel
Netanyahu agreed to pause attacks on Iran's gas field at Trump's request, easing oil prices from a peak above $119 per barrel amid escalating Gulf energy conflicts.
- On Thursday, Israeli Prime Minister Benjamin Netanyahu paused attacks at Trump's request, causing Brent crude to fall 1.6% and U.S. stocks to recover losses.
- As the war entered its third week, Iran intensified strikes on Persian Gulf energy facilities after an Israeli gas field attack, briefly sending Brent above $119 and constraining the Strait of Hormuz.
- The S&P 500 dipped 0.3% to 6,606.49 amid volatile trading, while the two-year Treasury yield spiked to 3.96% before retreating and Micron Technology fell 3.8% as Rivian Automotive rose 2.4% after Uber pledged $1.25 billion investment.
- The pullback in oil prices helped stabilise markets and eased some selling pressure, but the 10-year Treasury yield rose to 4.32%, raising borrowing costs for U.S. companies and households.
- Traders now expect the Fed to hold rates steady, as they assign a nearly 73% chance for this year while analysts warn Gulf oil and gas production losses could sustain global inflation.
88 Articles
88 Articles
Bowen Island Undercurrent
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View: Nigeria faces Iran war oil price conundrum
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US stocks slip, but markets worldwide hold steadier after oil prices ease a bit
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Global shares are mixed following losses on Wall Street, while oil prices steadied to around $110 per barrel after briefly surging to about $119 a barrel on Thursday over Iran war risks. U.S. futures are lower. Japan’s Nikkei 225 was…
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