Oil prices jump 5% as Middle East tensions and US hurricane threat shake markets
Part of composite article AI Bubble Fears Wipe 1.4% Off Nasdaq as OpenAI Revenue Doubts Spook Investors View full article →
Oil prices rose sharply on Thursday, driven by fears of worsening conflict in the Middle East and a possible production shutdown from a hurricane near the US coast.
Brent crude, the international benchmark, climbed 5% to $105.3 a barrel. The jump triggered heavy selling in global bond and stock markets.
The bond market sell-off continued as stocks fell. Reports said the White House has asked for options for more strikes against Iran.