U.S. crude oil prices dip below $90 as markets react to potential military escalation and geopolitical tensions in the Middle East.
President Trump convened top advisers to evaluate increasing military pressure on Iran after a ceasefire collapsed and diplomatic efforts stalled. The meeting follows reports of a potential operation larger than prior strikes, weighing on investor sentiment ahead of Israel’s prime minister’s White House visit next week.
Stocks retreated in response, with the NASDAQ and Dow shedding 0.49% and 0.38% respectively, while the S&P 500 traded near flat. Crude oil prices fluctuated, settling at $89.36 after hitting a low of $87.68, remaining below the 100-day moving average of $89.90.
Intelligence assessments suggest Iran’s leadership may be prioritizing nuclear advancement, further complicating negotiations. The geopolitical uncertainty has contributed to volatility in energy and equity markets.