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Wall Street Futures Drop as Middle East Tensions Lift Oil Prices Above $100
Iranian attacks on two tankers in Iraqi waters pushed crude oil to about $100 a barrel, disrupting markets and delaying Federal Reserve rate cut expectations.
- On Thursday, Brent crude surged back above $100 a barrel after Iranian attacks on tankers in Iraqi waters and Oman's evacuation of its Mina Al Fahal oil terminal.
- The ongoing war has disrupted 7.5% of global crude supply, with flows through the Strait of Hormuz down by more than 90%, according to the International Energy Agency.
- Traders dialed back expectations for U.S. interest rate cuts as global markets reacted to supply disruptions, with futures now pricing in only one quarter-point reduction by December.
- European Commission official Dombrovskis warned that inflation could exceed 3% this year if the conflict keeps energy prices elevated, potentially pushing 2026 growth down by up to 0.4ppts.
- Facing rising oil prices and pushback from his political base, President Trump is signaling he wants to wind down the war he launched against Iran less than two weeks ago.
16 Articles
16 Articles
Wall St falls 1% on ME tensions, credit woes
Wall Street's major indexes fell 1% on Thursday, with financial stocks taking a blow, as a surge in oil prices towards $100 a barrel rekindled inflation fears and investors kept a close watch on mounting jitters in the private credit sector. Crude prices jumped after two tankers were set ablaze in Iraqi waters in apparent Iranian strikes, as part of wider attacks on oil and transport facilities across the Middle East. Iranian Supreme Leader Mojt…
Wall Street cay and S&P 500 report major drop of 3 d as in a month; iran attacks is on 2 oil tankers fired oil prices.
The price of oil temporarily rose above the symbolic threshold of $100 per barrel on Thursday, putting pressure on the government debt market and weighing on the stock markets, which fear an inflationary shock.
Oil Price Surge and Middle Eastern Tensions Shake U.S. Markets
U.S. stock index futures declined amid rising oil prices fueled by Middle Eastern conflicts, which heightened inflation concerns. Goldman Sachs delayed interest rate cut forecasts as crude prices soared. Meanwhile, U.S. reopened trade probes, and the private credit market faced scrutiny due to potential vulnerabilities.
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