Oil Prices Surge Back to $100 as Markets Doubt Peace Prospects
Oil prices touched $100 a barrel again Thursday while stock futures slipped as efforts to end the Iran war showed few signs of meaningful progress, with jitters spreading across Asian and European markets.
Key Points
- Brent crude futures rose 3% to around $100/barrel
- US stock futures retreated: Dow -0.67%, S&P 500 -0.70%, Nasdaq -0.81%
- Oil dropped to $93.45 Wednesday on cease-fire optimism before reversing
- Trump wants speedy end to Iran war according to associates
Full Details
Oil prices topped $100 a barrel again Thursday as efforts to end the war in Iran showed few signs of meaningful progress, reversing earlier optimism about a possible cease-fire. Brent crude-oil futures rose roughly 3% to around $100 a barrel after slipping as low as $93.45 Wednesday on optimism about a potential cease-fire that has since tempered. U.S. stock futures retreated, mirroring a selloff in Asian and European indexes, with Dow futures down 0.67%, S&P 500 futures down 0.70%, and Nasdaq futures down 0.81%. Arab mediators are pushing for a meeting between the U.S. and Iran as soon as this week, and President Trump has told associates he wants to avoid a protracted war. Market jitters continue as investors brace for possible U.S. strike in Iran.
Why It Matters
Sustained oil prices above $100 could keep inflation elevated and pressure central banks to maintain restrictive policies
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