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NY Oil Futures Leap 19% as Mideast Countries Cut Oil Output; DJIA Futures Slip 800Pts+
The conflict between the US and Iran persisted, wreaking disruptions in shipping through the Strait of Hormuz. Several oil-producing countries in the Middle East decided to pare ba...
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NY Oil Futures Leap 19% as Mideast Countries Cut Oil Output; DJIA Futures Slip 800Pts+
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The conflict between the US and Iran persisted, wreaking disruptions in shipping through the Strait of Hormuz. Several oil-producing countries in the Middle East decided to pare back production, prompting an upsurge in international oil prices and a slump in US stock futures.

New York oil futures for April delivery lifted by USD17.33 or 19.1%, reaching USD108.23 during Asian electronic trading hours. Brent oil futures for May delivery hiked by USD15.42 or 16.6%, reaching USD108.11.

Related NewsJPM: Oil Pricing Shifting from Geopolitical Risks to Disruption Forecast w/ Scale Surge Estimated by Weekend
DJIA futures declined, down 852 points to 46,665. S&P 500 futures dropped 112 points to 6,631. Nasdaq 100 futures stumbled 444 points to 24,226.

Gold and silver prices subsided, with spot gold down USD105.93 or 2% per ounce to USD5,063.99, and spot silver down USD2.13 or 2.5% per ounce to USD82.2.

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