Oil fell as Bessent said the U.S. may free up stranded Iranian crude. Israel says it is helping efforts to reopen the Strait of Hormuz.
Talk of $200 a barrel oil isn't hyperbole until peace talks emerge or the Strait of Hormuz reopens, says a veteran oil analyst
Dubai crude oil prices surpassed $150 a barrel as transit in the Strait of Hormuz was crippled by the U.S.-Iran War. Brent crude prices have surged nearly 50% since the start of the war and currently trade around the $106 mark.
JPMorgan Chase & Co (NYSE:JPM, XETRA:CMC)'s global equity strategists have highlighted that US stocks have remained relatively resilient despite a sharp surge in oil prices, but cautioned that markets may be underpricing the risks tied to supply shocks and demand deterioration. As such, the firm lowered its 2026 year-end S&P 500 target to 7,200 from 7,500.
Fallout from the Middle East conflict is rippling through the global economy—and growing worse the longer it lasts.
Energy gurus say Thursday's spike in oil and gas prices may be just a taste of what's coming. They warned of roiling markets, shipping chaos, rising food prices, and severe economic pain.
Crude oil futures rise as Middle East attacks fuel supply fears. Bullish oil outlook builds with Brent near $120 and WTI approaching $100.
JPMorgan's strategists are concerned about the geopolitical overhang on the U.S. equity market while Panmure Gordon is worried about the second and third order impacts of a sustained oil price shock
U.S. President Trump warns of devastating response if Tehran persists in targeting the region's oil and gas production.
Crude surges again as the conflict in the Middle East escalates, with several natural gas facilities in Qatar facing missile strikes.
Escalating conflict in the Middle East sent global markets sharply lower on Thursday after Iran launched attacks on energy infrastructure across the region, pushing oil and gas prices to multi-year highs. Brent crude, the international oil benchmark, jumped 6.7% to $114.77 a barrel, having climbed from $102 to $109 the previous afternoon, as traders priced in the risk of prolonged supply disruption.
Oil prices surge as Middle East tensions and attacks on key energy infrastructure raise supply concerns, while strong technical breakouts and geopolitical risks keep the market biased toward further upside.