Published • loading... • Updated
Oil prices get back to rising and knock down US stocks
Brent crude climbed 3.6% and U.S. crude rose 4.2% as supply worries from the Strait of Hormuz dispute weighed on stocks.
- Surging crude prices knocked U.S. stocks lower on Monday after President Donald Trump rejected Iran's proposal to reopen the Strait of Hormuz, claiming Iran only sought a deal because it was "losing so badly."
- Oil prices surged more than 3% following recent U.S. military strikes against Iranian rocket launchers in the Strait of Hormuz, marking the first military action in a month amid renewed Middle East combat.
- Futures for the Dow Jones Industrial Average declined 0.5% Monday while the price for the most actively traded part of the market for Brent crude oil rose 1.4%, illustrating market pressure from energy volatility.
- The White House confirmed Monday it is partnering with North American Blue Energy Partners as part of President Donald Trump's push to tap into Venezuela's oil industry, with Energy Secretary Chris Wright expected to visit soon.
- Investors are monitoring a wave of economic data this week, including the Labor Department's report on job openings on Tuesday and The Commerce Department's final estimate of U.S. economic performance on Wednesday.
Insights by Ground AI
18 Articles
18 Articles
Oil prices get back to rising and knock down US stocks
Rising oil prices are knocking U.S. stocks lower. The S&P 500 fell 0.5% Monday and gave back some of its gains from last week, which had brought it to the brink of its all-time high. The Dow Jones Industrial Average dropped 380 points, and the Nasdaq composite slipped 0.5%. Stocks felt pressure after the price for the most actively traded part of the market for Brent crude oil rose 1.4%. That sent yields higher in the bond market. It was also en…
·Albuquerque, United States
Read Full ArticleCoverage Details
Total News Sources18
Leaning Left5Leaning Right3Center9Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 29%
C 53%
R 18%
Factuality
To view factuality data please Upgrade to Premium
