"Brent crude is trading at $108.6 a barrel after spiking as high as $119 earlier in the week, with Iranian strikes on Gulf energy infrastructure keeping supply fears front and center."
"The monthly surge in WTI is 48% from mid-February levels, one of the fastest oil price accelerations in recent memory."
"Super Micro Computer is the S&P 500's worst performer today, falling on concerns about AI chip sales to China."
The S&P 500 fell to 6,557.94, down 0.73%, marking a fourth consecutive losing week influenced by surging oil prices and Middle East conflict. Brent crude reached $108.6 a barrel, driven by Iranian strikes on Gulf energy infrastructure. A geopolitical energy crisis has intensified, with Iranian attacks on LNG facilities in Qatar reducing export capacity. The U.S. is considering lifting sanctions on Iranian oil to alleviate supply concerns. Super Micro Computer is the worst performer in the S&P 500, affected by AI chip sales issues, while the Dow is faring slightly better.
Read at 24/7 Wall St.
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