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Oil prices spike, stocks drop amid Middle East tensions

Financial Times — April 4, 2024, 11:00 PM UTC

Summary: Oil prices surged above $90 a barrel, with Brent crude settling at $90.65, the highest since October. US stocks plummeted, with the S&P 500 down 1.2% and Nasdaq 1.4%. Geopolitical tensions in the Middle East drove investors to safe-haven assets like US Treasuries and the Japanese yen. The rise in oil prices, influenced by Middle East tensions and supply constraints, poses challenges for central banks combating inflation.

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Timeline:

  1. [6.6]
    Oil prices rise due to geopolitical tensions and supply concerns (CNBC)
    155d 21h

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  2. [6.6]
    Oil prices surge due to Ukraine strikes on refineries (CNBC)
    156d 11h

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  3. [4.3]
    Crude oil futures rose after OPEC+ meeting on 2024-04-03 (CNBC)
    157d 10h
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  4. [6.6]
    Oil prices surged due to geopolitical tensions and supply concerns (CNBC)
    158d 10h

    ScoresSource
  5. [6.6]
    Oil prices rise on demand, Middle East tensions, hitting $87.79 (CNBC)
    158d 18h

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  6. [5.3]
    Oil prices dip slightly, OPEC+ extends cuts, supply impacted (CNBC)
    159d 20h

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  7. [5.8]
    Brent crude prices fluctuated in FY24 due to OPEC+ actions (Mint)
    161d 7h

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