US markets fall and oil prices jump again as Trump’s deadline for Iran to reopen oil route nears
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US markets fell and oil prices jumped as President Trump's deadline for Iran to reopen a crucial oil route neared. The deadline's expiration could lead to punishing strikes on Iran's infrastructure, causing major damage to the world economy.
US markets fell and oil prices jumped as President Trump's deadline for Iran to reopen the Strait of Hormuz neared. The S&P 500 and Dow Jones Industrial Average each fell 0.5% before the opening bell. Oil prices climbed to their highest level in nearly four years, with US crude rising 2.2% to $114.87 per barrel. The US had threatened to destroy Iran's power plants and bridges if the strait is not reopened. The standoff has caused oil prices to rise over 70% since the US and Israel launched attacks on Iran. The situation has raised concerns about a potential war crime and damage to the world economy.
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