Oil prices remained stable amidst geopolitical tensions in the Middle East and Russia, coupled with concerns over trade tariffs impacting fuel demand. Escalating conflict in Gaza and Ukrainian drone strikes on Russian energy facilities added to market uncertainty. The EU’s planned ban on Russian LNG imports and NATO’s accusations against Russia further influenced the oil market.
US stocks: US market ends down as oil prices, Treasury yields rise
In a turbulent day for Wall Street, the markets faced declines primarily driven by disappointing performances from Alphabet and Amazon, compounded by increasing Treasury yields.