economy United States
US stocks fall as oil prices fluctuate over Strait of Hormuz risks
100Mbarrels
Oil reserves agreed for immediate release by G7 countries and the IEA
US stocks closed lower as oil prices first rose over concerns about attacks and supply disruptions in the Strait of Hormuz, then fell after IEA members indicated they could release additional reserves. Treasury yields reached their highest levels in more than two decades.
1 sourceAl JazeeraUpdated
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Wall Street closed lower on Wednesday.
“Wall Street closed lower on Wednesday”
US government bond yields reached a 24-year high.
“yields on US government bonds climbing to 24-year highs”
IEA member countries said they were ready to release additional oil reserves if necessary.
“IEA member countries said they stand ready to release additional oil from their reserves if necessary”