Oil rises above $98, markets react to strikes in Lebanon and risks to the Strait of Hormuz
Kyiv • UNN
Oil prices are rising amid escalation in the Middle East and risks to the Strait of Hormuz. Stock markets are fluctuating due to the US economic slowdown.
Global oil prices are rising for the second consecutive day, while US stock futures are fluctuating amid escalation in the Middle East. This is reported by UNN with reference to Bloomberg.
Details
WTI crude rose 0.3% to over $98 a barrel after a 3.7% jump the day before, while Brent traded near $96. The rise comes amid Israeli strikes on Lebanon and tensions around the Strait of Hormuz, a key supply route.
At the same time, by the end of the week, quotes remain more than 10% lower after the announcement of a ceasefire between the US and Iran. President Donald Trump threatened Tehran with imposing fees for ships passing through the strait.
Stock markets
US stock futures show volatile dynamics after a seven-day rise in the S&P 500 index - the longest since October. On Thursday, the index added 0.6%, and the Nasdaq 100 rose 0.7%.
In Asia, markets moved in different directions: contracts for Japan, Hong Kong, and South Korea rose, while Australian indices fell.
Geopolitics and expectations
Little matters to the market beyond the duration of the ceasefire, the volume of traffic through the Strait of Hormuz, and whether there will be a permanent agreement
Recent data showed a slowdown in the US economy at the end of 2025, while consumer spending increased slightly. Economists expect a 0.9% increase in the consumer price index - this could be the largest monthly increase since 2022.
At the same time, the number of repeated applications for unemployment benefits decreased to a minimum in almost two years, which indicates the stability of the labor market.