Wall Street retreats, oil prices jump on conflicting reports of a strike on U.S. Navy vessel near Iran
Wall Street futures fell and oil prices jumped on conflicting reports of a strike on a U.S. Navy vessel near Iran. The U.S. military denied the attack, while Iranian news agencies claimed to have struck the vessel.
Wall Street futures dipped on Monday due to conflicting reports of a strike on a U.S. Navy vessel near Iran. Futures for the S&P 500 were down 0.2%, while Dow Jones Industrial Average futures lost 0.5%. Oil prices initially jumped 5% but later settled between 2-3% higher after the U.S. military denied the attack. Iranian news agencies claimed to have struck a U.S. Navy vessel southeast of the Strait of Hormuz. U.S. benchmark crude was up $2.18 at $104.12 a barrel, while Brent crude jumped $3.06 to $111.23 a barrel. GameStop's pursuit of a $56 billion takeover of eBay caused eBay shares to climb nearly 8%. The U.S. Central Command announced 'Project Freedom' to guide ships through the Strait of Hormuz, involving guided-missile destroyers and 15,000 service members.
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