Oil prices jump 7% and stocks drop
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In early 2025, oil prices crashed to nearly $60 a barrel but rebounded to $75 due to the recent conflict.
Although the U.S. is a net oil exporter, higher oil prices could increase inflation and lower economic growth.
At the moment, the impact on U.S. energy prices of Israel’s strikes on Iran is muted. That could change if the conflict escalates.
The strongest action was in the oil market, where the price of a barrel of benchmark ... the situation was not escalating and there was no impact on oil supply,” according to Richard Joswick ...
Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.
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