Oil Nears $100 as Hormuz Stalemate Drags Dow Lower — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Oil prices climbed toward $100 per barrel as a Strait of Hormuz stalemate kept ship traffic down amid the ongoing U.S.-Iran war.
- The Dow opened lower, with the S&P 500 also declining as markets reacted to the energy price surge tied to the shipping lane standoff.
Why it matters: With oil approaching $100 and the Strait of Hormuz still choked off, fuel and shipping costs climb for consumers and businesses while corporate margins tighten under the supply disruption.
Ask SkimNews
