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Offline mystery-ak

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Oil Surges, Stocks Plunge as Iran War Escalates on Fourth Day
« on: March 03, 2026, 11:06:22 am »
Oil Surges, Stocks Plunge as Iran War Escalates on Fourth Day


John Carney 3 Mar 2026

Stocks plunged Tuesday morning as oil and natural gas prices surged higher.

The Dow Jones Industrial Average dropped by around 1,200 points, a 2.4 percent decline from yesterday’s close. The index is on track for its biggest one-day retreat since April 2025, when shares sold off in reaction to President Trump’s “Liberation Day” tariffs.

Futures for Brent Crude, the global oil benchmark, jumped by nearly eight percent, briefly topping $85 a barrel, before moderating somewhat. For the day, Brent is up around 8.2 percent at at around $84.16 a barrel. Analysts are closely watching whether the price threatens to rise above $95 a barrel, the three-year high that economists regard as signaling an economic shock.

Natural gas prices in the U.S. climbed by five percent. The European natural gas benchmark is jumped by around 25 percent and is up more than 65 percent on the week.

The S&P 500 index fell by around 2.25 percent, as the Nasdaq composite dropped by 2.4 percent. The Russell 2000, composed of domestically focused smaller companies, fell by 3.5 percent.

Prices of metals were also falling on Tuesday, leaving investors with few options for safety. Gold dropped 4.6 percent, silver plunged 9.2 percent, and copper declined 2.4 percent. Palladium and plutonium futures fell sharply.

Stocks in Europe and Asia also declined sharply. The major European indexes were down between three and four percent. Japan’s Nikkei fell by around three percent.

Concerns that higher energy prices could boost inflation or push the Fed to become more hawkish sent U.S. Treasury prices lower, pushing yields higher. The 10-year yield reached 4.1 percent.

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https://www.breitbart.com/economy/2026/03/03/oil-surges-stocks-plunge-as-iran-war-escalates-on-fourth-day/
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Offline Wingnut

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Re: Oil Surges, Stocks Plunge as Iran War Escalates on Fourth Day
« Reply #1 on: March 03, 2026, 11:16:10 am »
The "Knee jerk" effect.

A Saudi Sheek could fart in his tent and oil prices would jump.

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Online DCPatriot

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Re: Oil Surges, Stocks Plunge as Iran War Escalates on Fourth Day
« Reply #2 on: March 03, 2026, 01:28:51 pm »
Quote from: Wingnut on March 03, 2026, 11:16:10 am
The "Knee jerk" effect.

A Saudi Sheek could fart in his tent and oil prices would jump.

My neighborhood stations are currently at $2.89 as of yesterday afternoon.  It's 1:26PM

It's weird in itself, as for the craziest excuse it has bounced thirty cents at one time, but NOT for Iran??
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Offline DB

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Re: Oil Surges, Stocks Plunge as Iran War Escalates on Fourth Day
« Reply #3 on: March 03, 2026, 01:30:51 pm »
What's Spain's stock market doing?

I'd expect it is cratering.

Edit - when it opens tomorrow...
« Last Edit: March 03, 2026, 01:35:59 pm by DB »
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Offline andy58-in-nh

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Re: Oil Surges, Stocks Plunge as Iran War Escalates on Fourth Day
« Reply #4 on: March 03, 2026, 01:49:14 pm »
The markets have largely recovered this afternoon. DOW only down 0.79% at the moment.
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Offline Free Vulcan

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Re: Oil Surges, Stocks Plunge as Iran War Escalates on Fourth Day
« Reply #5 on: March 03, 2026, 01:57:49 pm »
Stocks mirroring oil for the time being, and probably will till it calms down.
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