US Edition
Stocks Recoup Losses and Oil Pares Gains After Smashing Through $100 per Barrel
Oil prices briefly hit nearly $120 per barrel amid Middle East war fears, threatening supply via the Strait of Hormuz and triggering global market losses, experts warn.
- On Monday, Brent crude briefly touched $119.50 as oil surged above $100 and the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all fell.
- Since Feb 28, tanker traffic through the Strait of Hormuz has effectively halted, threatening about 20% of global oil flows after US and Israeli strikes damaged regional infrastructure.
- Companies with big fuel bills were hit hard, with Carnival losing 7.3%, United Airlines falling 6.9%, and Old Dominion Freight down 3.8%, as oil pared gains to $101.76 and US crude fell to $99.59.
- The G7 finance ministers and the International Energy Agency discussed releasing strategic petroleum reserves, with a further meeting scheduled on Tuesday, while Trump called the price surge 'a very small price to pay' for security.
- Looking ahead, the loss of spare capacity suggests stagflation risk, though Sameer Samana of Wells Fargo Investment Institute expects the shortage to ease in the coming months as supply rises.
11 Articles
11 Articles
US stocks still haven’t gone into panic mode
Investors have long viewed the closure of the Strait of Hormuz as a “tail risk” event — the kind of thing that was highly unlikely to happen but would be so catastrophic that you can’t afford to be unprepared for it. As black swans go, Hormuz closing for weeks or months could be an economic disaster on par with a global pandemic.
Shares plunge as oil prices rocket to four year high
The global economy is facing its biggest shock since the depths of the pandemic as oil prices soar to almost US$120 a barrel. It’s wiped billions off equity markets. Fears are growing that the war against Iran could plunge the United States and many other economies into recession. Overnight, oil prices eased back to just under US$100 after finance ministers from G7 countries including the US, UK and Canada said they would take “all necessary” me…
Trump Dismisses Oil Spike Fears and Calls Critics 'Fools' as Other Countries Scramble for Oil Reserves
President Donald Trump has sparked backlash after branding concerns over skyrocketing energy costs as 'foolish', even as global markets reel from the most violent oil price swing since 2022. Following a series of US and Israeli airstrikes on Iranian infrastructure, Brent crude surged by 25% on 9 March 2026, briefly touching $119.50 a barrel. While the G7 and the International Energy Agency (IEA) convened an emergency session to coordinate a mass…
Wall Street Follows Global Markets Lower As Iran War Briefly Pushes Crude Prices Near $120 A Barrel
Wall Street followed global markets lower and oil prices briefly spiked to nearly $120 per barrel as the Iran war intensified, threatening production and shipping in the Middle East.
Fidelity’s Market Week: Tom Stevenson comments as shares and bonds fall in response to a surge in the oil price
With investors warning of the risk that prolonged disruption through the Strait of Hormuz could add to inflation pressures and weigh on global growth, Tom Stevenson, Investment Director, Fidelity International has shared his analysis. In his weekly outlook, Stevenson comments on what’s driving markets this week and outlines some potential scenarios as to how things might play out depending on what happens in the Gulf in the days and weeks ahead.…
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