Dow Jones futures fall, oil prices spike; US Navy to blockade Iran's ports
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US equities traded lower on Friday due to rising oil prices and uncertainty around the Iran conflict. The Dow Jones Industrial Average lost 402 points, while crude prices climbed, with Brent crude reaching $104.15 per barrel and US crude advancing to $97.28.
US equities fell on Friday, with the S&P 500 down 0.8% and the Dow Jones Industrial Average losing 402 points. The decline follows a volatile week marked by shifting expectations around a possible de-escalation in the Iran conflict. Crude prices rose, with Brent crude climbing 2.2% to $104.15 per barrel and US crude advancing 3% to $97.28. The conflict has heightened fears of disruptions to energy supplies, and analysts warn that oil prices could spike to $200 per barrel if tensions persist. Elevated crude prices have pushed bond yields higher, complicating the outlook for monetary policy. The yield on the 10-year US Treasury rose to 4.46%, up from 4.42% the previous day.
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