On Tuesday, Brent crude surged toward $100 a barrel as Secretary of State Marco Rubio warned Iran it would lose more oil tankers if Tehran continues attacking U.S. naval vessels, while Houthi strikes on Saudi Arabia added to fears of broader supply disruptions.
Wall Street Futures Slip as Oil Prices Climb
Dow futures fell 44 points, or 0.08%, to 52,788.00, while S&P 500 futures were down 4.50 points, or 0.06%, at 7,676.00. Nasdaq 100 futures slipped 26.50 points, or 0.09%, to 29,512.25 as of around 8:36 p.m. EDT.
In commodities, WTI crude oil rose 1.67% to $94.58 per barrel, while Brent crude advanced 1.58% to $99.47 per barrel. Natural gas futures fell 0.65% to $2.897 per MMBtu.
Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 98.783, down 0.05% at the time of writing.
Asian markets traded higher, with South Korea’s KOSPI rising 0.67% to 7,001.43, while Japan’s Nikkei 225 climbed 0.06% to 65,306.25.
Rubio Warns Iran Over Attacks on US Ships
The U.S. military said it destroyed five Iranian crude-oil tankers on Tuesday after Iran’s Islamic Revolutionary Guard Corps targeted a U.S. Navy warship with ballistic missiles.
“Iran continues to try to hit U.S. naval ships, and for every time they do that or try to do that, they’re going to lose tankers,” Rubio told reporters, Reuters reported.
Iran subsequently launched ballistic missiles toward a U.S. base near Al Azraq in Jordan, the report added, citing an IRGC statement carried by state media. However, Jordan said its air defenses intercepted 18 of 20 missiles, with no reported casualties.
Saudi Oil Attacks Add to Supply Fears
The Houthi attacks targeted facilities in Abha, Najran and Jazan, including energy infrastructure linked to Saudi oil giant Aramco. Fires were reported at several sites.
Saudi authorities reported fires at the targeted sites and said women and children were among the 73 people injured.
The scale of the casualties indicated that the attacks could rank among the most significant strikes on Saudi Arabia since the U.S. and Israel launched their war against Iran in February.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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