Oil futures surge following US strikes in Iran
Oil prices surged in late Sunday trading after the United States launched strikes on three Iranian nuclear Saturday evening in a major escalation of the Iran-Israel conflict.
US oil futures jumped 3.6% to about $76.47 per barrel. Brent futures increased 3.2%, settling at $74.59 per barrel.
US stock futures fell in response to the attacks. Dow futures dropped 0.6%. S&P 500 futures fell 0.6%, while Nasdaq futures tumbled 0.7%.
The US dollar rose 0.3%.
Israeli stocks were bolstered Sunday by the news and surged to record highs. The Tel Aviv 125 climbed 1.8% to close at 2,919.62. The TA-35 gained 1.5% to close at 2,877.78, an all-time high.
The United States produces an average of roughly 13.4 million barrels a day. Crude oil stockpiles have increased more than 200 million barrels since early January and OPEC+ recently announced plans to increase production, but there are growing concerns that Iran may close the Strait of Hormuz or pressure the flow of oil and trade in the area.
Economists are especially concerned about retaliations that could disrupt the flow of oil, which is heavily dependent on the strait. Any sharp jump in oil prices could potentially trigger higher inflation for the US economy.
During 2024 and the first quarter of 2025, more than 25% of seaborne oil trade flowed through the strait, according to the US Energy Information Administration. The US imported about 500,000 barrels per day through the strait, accounting for 7% of total US crude oil and condensate imports.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Wolfspeed reaches agreement with creditors, plans bankruptcy filing
(Reuters) -Wolfspeed said on Sunday that it has reached a restructuring agreement with creditors and plans to file for bankruptcy in the U.S. in the near future. The restructuring agreement would provide the struggling chipmaker with $275 million in fresh financing by some of its existing creditors, the company said in its statement.
Bloomberg
31 minutes ago
- Bloomberg
AGSI's Silliman Outlook on MidEast Conflict
The Asia Trade Douglas Silliman, former US Ambassador to Iraq & Kuwait and President & CEO of Arab Gulf States Institute, discusses the latest developments in the conflict between US, Iran and Israel and his outlook on how it will play out. He speaks with Haidi Stroud Watts and Avril Hong on "Bloomberg: The Asia Trade." (Source: Bloomberg)
Yahoo
36 minutes ago
- Yahoo
Women are getting wealthier — and they don't invest the same way as men
Women's share of retail financial assets in the US and EU is set to reach between 40% to 45% by 2030. Factors like declining marriage rates and higher earnings have played a role in the trend. Commentators say women invest more cautiously than men, focusing on goals and values. Women are becoming richer, and they're changing the face of wealth. According to a report by McKinsey published last month, women control about a third of all retail financial assets in the US and the European Union. By 2030, that proportion is expected to rise to between 40% to 45%, wrote Cristina Catania, global co-convener and European lead for the risk and resilience practice, and Jill Zucker, senior partner and co-leader of McKinsey's global growth transformation service line. The report is based on a survey of about 13,000 American and European investors, nearly half of whom were female financial decision makers. It found that between 2018 and 2023, global wealth rose by 43%, but jumped by 51% for women. Women's expanding control of assets is being driven by a combination of factors, including a continuing decline in marriage rates, the ongoing boost in women's average earnings, demographic trends like longer life expectancies, and a broad shift in attitudes about women managing their own finances. As women become wealthier through investing, it's becoming clearer that they don't approach it the same way as men. "Women are much more risk-aware," Anna-Sophie Hartvigsen, cofounder of financial education and investment platform Female Invest, told Business Insider. "I would like to call it much more realistic in their own ability to invest." She said women are less likely than men to invest emotionally. "On average, men trade a lot more often than women because they believe they can beat the market or they read something in the news, and they get pumped up or afraid, and then they invest based on that," Hartvigsen said. Female investors, in her view, tend to be more calm, more realistic, and better at assessing risk. However, Katie Geery, an advisor at Rise Private Wealth Management, says being more cautious can also hold women back by leading them to miss out on opportunities to build wealth. "It is important to work with a trusted financial advisor who understands your risk tolerance and can walk you through making well-educated investment decisions based on your long-term goals," she told BI. The aims of investing also sometimes differ between men and women. "Women prefer to invest toward achieving specific goals rather than chasing the highest returns," said Avanti Shetye, financial planner at Wealthwyzr. Geery said female investors tend to be more focused on philanthropy and gifting. They often consider their values when buying stock and want their purchases to help make a better impact on the world. "Women often seek financial advisors who are empathetic and take the time to get to know them on a more personal level to gain a deeper understanding of their goals and values," she said. On Female Invest, Hartvigsen said the principles its members care about the most include climate, especially a firm's carbon footprint, and diversity in leadership, in terms of a board having a good gender balance. For Shetye, it's important to start investing early. "Women tend to be primary caregivers for children or aging parents and often take unpaid time off," she said. "Not only that, women statistically live longer than men, which implies that women would need to invest as much as they can as early as possible so that their portfolios last them through retirement." Hartvigsen said long-term financial planning is vital: "When you do that, it doesn't matter what happens today." Both agree that this plan should be grounded in expert advice. "Working with a financial planner whose planning process is rooted in financial education can help provide comfort and security to stay consistent even in the roughest of markets," Shetye said. But she also believes that practice is more important than perfection. "You are never going to know everything there is to know about investing," Shetye said. "The key is consistency, and time will do the heavy lifting." Hartvigsen advises her clients to invest monthly on the same day and to diversify their investments. "If you do that, historically, it has been near impossible not to make money in the long run." Read the original article on Business Insider 登入存取你的投資組合
