Oil prices surge and stocks fall as Iran escalates shipping attacks

[riversedge]

Source: abc news


Oil prices surged and stocks tumbled worldwide on Thursday as Iran escalated shipping attacks in a critical tanker route.

Global crude spiked above $100 a barrel on Thursday, crossing a key benchmark. The rise in oil prices defied a U.S. effort hours earlier to reassure markets with an announcement of the second-largest ever release from the nation's petroleum reserve.


A selloff hit Wall Street as traders feared economic fallout from a potentially prolonged bout of elevated oil prices.

The Dow Jones Industrial Average fell 620 points, or 1.3%, while the S&P 500 dropped 1.2%. The tech-heavy Nasdaq declined 1.6%.

Oil markets are suffering a major supply shortage due to an Iranian blockade of the Strait of Hormuz, a trading route that facilitates the transport of about one-fifth of the global oil supply.
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Read more: https://abcnews.com/Business/oil-prices-surge-stocks-fall-iran-escalates-shipping/story?id=130995443

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BREAKING: High oil prices are now good…

Wtf

— Krassensteins (@krassenstein.bsky.social) 2026-03-12T13:58:05.116Z

Global oil prices spiked above $100 a barrel on Thursday.

https://abcnews.com/Business/oil-prices-surge-stocks-fall-iran-escalates-shipping/story?id=130995443

[bucolic_frolic]

1. gas is up 65 cents a gallon here since 10 days ago

put another 50 in the juke box, baby

[thomski64]

3. At least all redneck F-150, Silverado, Ram.

Krasnov voters will pay the the most for their gas hogs at the pump.

[Miguelito Loveless]

8. I will park my EV at a gas station

and just sit there and laugh.

[riversedge]

2. EVERYTHING IN red ON THE MARKET. .............

https://www.msn.com/en-us/money/watchlist?id=a33k6h&tab=Markets&ocid=winp1taskbar&cvid=e0f6aa30275a4cb7fbd1b6ea32daf6a6&ei=7r

S&P 500
INX
‎6,689.14
‎-1.28%

DOW
DJI
‎46,769.87
‎-1.37%

NASDAQ
Price down
‎22,334.58
‎-1.68%

Russell 2000
Price down
‎2,496.40
‎-1.83%

NYSE Composite
NYA
‎22,186.54
‎-1.34%

Russell 1000
RUI
‎3,648.80
‎-1.27%

Russell 3000
RUA
‎3,800.19
‎-1.29%

[Prof. Toru Tanaka]

9. I wonder if anyone has told Pam Blondi that her stocks aren't worth $50,000 anymore?

[rsdsharp]

4. Who is this "we," Donnie? I don't own a single barrel of crude.

[cstanleytech]

5. We need a GOP MAGA elephant sticker with an arrow that we can post at gas pumps that says "We did it!!!"

[dem4decades]

7. I've got the Trump ones, good enough!

[twodogsbarking]

6. Well, that's another nice mess you've gotten us into.

[nitpicked]

10. Dow tumbles more than 700 points as oil jumps, closing at new 2026 low under 47,000

https://www.cnbc.com/2026/03/11/stock-market-today-live-updates.html

Stocks were under pressure on Thursday as oil prices added to their surge on supply disruption worries while the Iran war continued.

The Dow Jones Industrial Average fell 739.42 points, or 1.56%, closing at 46,677.85. The S&P 500 lost 1.52% and settled at 6,672.62, while the Nasdaq Composite shed 1.78% to end at 22,311.98. All three indexes posted closing lows for 2026, and the 30-stock Dow ended the session below the 47,000 threshold for the first time this year.

Crude prices continued to climb after Iran’s new Supreme Leader Mojtaba Khamenei — who was appointed on March 9 — said that the Strait of Hormuz should remain closed as “tool to pressure the enemy.”
(snip)

[Scalded Nun]

11. Of course it is good for "US"

US=US Oil companies.

Who is paying for those great prices...why the American consumer of course.

Money going from Americans directly into oil company pockets.

Why would Trump think this is anything but great news?

Would not be surprised if a percentage of that money was being skimmed as well.