Israel-Iran Conflict Sparks Oil Price Surge
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Stock futures were mixed on Sunday as investors weighed the impact of the escalating Israel-Iran conflict that shows no signs of any potential off-ramps ahead. Oil prices jumped after Israel attack key areas of Iran’s energy infrastructure over the weekend,
The jump in oil prices following Israel's strikes on Iran could exacerbate stagflationary conditions if they persist, according to Apollo Global Management.
Although the U.S. is a net oil exporter, higher oil prices could increase inflation and lower economic growth.
A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.
Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.
Oil prices are rising and stocks are falling on worries that Israel's attack on Iranian nuclear sites could damage flow of crude around the world.
That sent the yield on the 10-year Treasury up to 4.43% from 4.36% late Thursday. Higher yields can tug down on prices for stocks and other investments, while making it more expensive for U.S. companies and households to borrow money.