06/14/2025

Oil Prices Leap 7 Percent

Meanwhile, U.S. stocks slump on worries about the crude market

Oil prices leaped, and stocks slumped Friday 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.

The S&P 500 sank 1.1 percent and wiped out what had been a modest gain for the week. The Dow Jones Industrial Average dropped 769 points, or 1.8 percent, and the Nasdaq composite lost 1.3 percent.

The strongest action was in the oil market, where the price of a barrel of benchmark U.S. crude jumped 7.3 percent to $72.98. Brent crude, the international standard, rose 7 percent to $74.23 for a barrel.

Please select this link to read the complete article from CNN.