Wall Street follows global markets lower with missiles fired at Israel and confusion on peace talks
Wall Street followed global markets lower on Thursday as tensions between the US and Iran escalated, causing oil prices to jump above $100 per barrel. The rise in oil prices lifted shares of energy producers, while the US prepared for the arrival of troops in the region.
Global markets fell on Thursday due to escalating tensions between the US and Iran. Oil prices jumped above $100 per barrel, with Brent crude rising 3.4% to $100.61 per barrel. The US and Iran hardened their positions, with Iran issuing its own ceasefire plan. The plan includes a halt to killings of its officials and reparations for the war. The rise in oil prices lifted shares of energy producers such as ConocoPhillips and Valero Energy. The US prepared for the arrival of troops in the region, while Iran moved to formalize its control over the Strait of Hormuz.
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