US Stocks Open Higher While Oil Prices Continue to Climb
Brent crude rose 1.8% to $97.33 a barrel as renewed U.S.-Iran fighting lifted energy prices and pressured stock futures, analysts said.
- On Thursday, oil prices continued climbing as fighting between the U.S. and Iran intensified, with U.S. crude up 11% this week after the U.S. struck Iranian rocket launchers Sunday in the Strait of Hormuz.
- Iran fired at Kuwait on Thursday in retaliation for U.S. bombardments earlier in the week, escalating Middle East tensions as the U.S. says Iran planned to deploy mines into the waterway.
- Benchmark U.S. crude rose 2.1% to $92.92 a barrel, while Brent crude climbed 1.8% to $97.33, as rising oil prices added inflationary pressures with the 10-year Treasury yield near 4.77%.
- The Dow Jones Industrial Average added 0.7% and the S&P 500 rose 0.5% in early trading Thursday, though Nasdaq futures slipped 0.2% as investors balanced geopolitical risk against corporate developments.
- Nvidia rose 1% after announcing a $13 billion deal to acquire Hugging Face, while the 2-year Treasury yield slipped to 4.36% ahead of Friday's crucial U.S. employment report.
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17 Articles
US stocks open higher while oil prices continue to climb
NEW YORK (AP) — U.S. stocks are opening higher while oil prices continue to climb amid ongoing tension in the Middle East. Fighting between the U.S. and Iran has increased this week after the U.S. hit Iranian rocket launchers on an island in the Strait of Hormuz on Sunday. The S&P 500 rose 0.5% in early trading Thursday. The Dow Jones Industrial Average added 368 points, or 0.7%, and the Nasdaq composite rose 0.6%. Nvidia rose 1% after the giant…
The Indian aviation industry is facing oil trouble again. Crude oil prices are soaring in the international market due to renewed tensions between the US and Israel-Iran. In this context, aviation fuel (ATF) prices increased in the domestic market on Tuesday.
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