Crude oil prices surged on Thursday due to escalating tensions in the Middle East, raising concerns over potential disruptions to global oil supplies. Meanwhile, U.S. stocks saw a pullback, with the S&P 500 falling 0.2%, the Dow Jones Industrial Average down by 184 points, and the Nasdaq slightly edging lower. Concerns mounted after President Joe Biden hinted at possible Israeli strikes on Iranian oil facilities following a missile attack by Iran. Brent crude prices jumped 5%, while bond yields rose on positive U.S. economic data.
Crude prices surge amid middle east tensions; U.S. stocks decline.
