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Market Turmoil as Geopolitical Tensions Drive Oil Prices Higher

Market Turmoil as Geopolitical Tensions Drive Oil Prices Higher

Author:

Global Cryptocurrency

Published:

2026-03-13 03:38:01

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BTCCSquare news:

US equities extended losses amid escalating Middle East tensions, with the Dow Jones Industrial Average plunging 1.2% in early Thursday trading. The energy sector remains volatile as Brent crude futures briefly breached $100/barrel following provocative statements from Iran's new leadership regarding the Strait of Hormuz.

Commodity markets show no signs of stabilization as West Texas Intermediate futures surged 9% to $95/barrel. This sustained upward pressure on energy prices continues to strain consumer wallets, compounding existing economic uncertainties.

Labor markets demonstrate unexpected resilience with jobless claims holding steady at 213,000, defying economist predictions. Meanwhile, Treasury markets reflect growing risk aversion as investors flee long-dated government bonds.

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