Oil prices experienced a significant surge of nearly 4% on Thursday evening following reports of explosions in Iran. This sudden increase in oil prices led to a sharp decline in US stock futures, indicating a potential impact on the financial markets.
During recent trading sessions, US oil prices rose by 3.7% to reach $85.80 per barrel, while Brent crude, the global benchmark, saw a 3.4% increase to $90.13 per barrel. The spike in energy prices was triggered by reports of an explosion near Iran's Isfahan Airport, as confirmed by Iranian news agencies.
The news of the explosion in Iran had an immediate effect on US stock futures, with Dow futures plummeting by 480 points, equivalent to a 1.3% decrease. Similarly, Nasdaq futures experienced a significant drop of nearly 2% in response to the unfolding events.
These developments highlight the interconnected nature of global markets and the impact that geopolitical events can have on financial assets. Investors and analysts are closely monitoring the situation in Iran for any further developments that could potentially influence market dynamics in the coming days.
