"Futures for the Dow Jones Industrial Average rose 0.2 per cent before the opening bell, while S&P 500 futures inched up 0.1 per cent. Futures for the Nasdaq were up 0.2 per cent. On Monday, markets swung from big losses to finish the day with gains, while oil prices neared $120 US per barrel before falling back to about $90."
"U.S. President Donald Trump told CBS News on Monday that he thinks 'the war is very complete, pretty much.' However, Trump also made other somewhat contradictory comments that seemed to threaten intensified action against Iran if it makes any 'attempt to stop the globe's oil supply.'"
"Oil prices are still up about 34 per cent since the war began. The average U.S. price for a gallon of gas continued to climb, rising to $3.54, according to auto club AAA on Tuesday. That average was just under $3 a gallon in the days before the conflict began, and $3.11 last week."
"There is a great deal of uncertainty about just how high oil prices will go and how long they will stay there because of disruptions to Middle East energy facilities. If oil prices stay very high for very long, household budgets already stretched by [ongoing pressures] will face additional strain."
Markets showed modest gains early Tuesday following volatile trading patterns throughout the week driven by the U.S.-Israel conflict with Iran. Stock futures rose slightly across major indices while oil prices declined from recent highs. Crude fell to approximately $89-92 per barrel after approaching $120 earlier in the week. Despite President Trump's statement suggesting the conflict is largely complete, Iran launched new attacks Tuesday, maintaining regional tensions. Oil prices remain approximately 34% higher than pre-conflict levels. U.S. gasoline prices climbed to $3.54 per gallon, up from under $3 before the conflict and $3.11 the previous week. Ongoing uncertainty about Middle East energy facility disruptions continues creating market volatility and concerns about sustained high energy costs affecting household budgets.
#oil-prices-and-energy-markets #us-israel-iran-conflict #stock-market-volatility #geopolitical-tensions-and-middle-east #gasoline-prices-and-inflation
Read at www.cbc.ca
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