US Stocks Rebound After Early Dip, Crude Oil Prices Soften Amid Geopolitical Tensions
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US Stocks Rebound, Crude Softens After Initial Spike Amid West Asia Tensions
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CNBC Awaaz•09-03-2026, 21:54
US Stocks Rebound, Crude Softens After Initial Spike Amid West Asia Tensions
•US stock markets recovered some losses after an initial decline, with Nasdaq narrowing its fall to less than half a percent.
•Crude oil futures surged nearly 30% to almost $120 per barrel, then softened to $97.92 (US crude) and $100.56 (Brent).
•Market tension is fueled by Iran declaring Mojtaba Khamenei as the new Supreme Leader, amidst conflict with the US and Israel.
•Ongoing West Asia tensions make passage through the Strait of Hormuz difficult due to Iranian drone threats, raising energy price concerns.
•Investors await Washington's response, as the duration and outcome of the conflict remain uncertain, according to Helima Croft of RBC Capital Markets.
