U.S. stocks opened firmly lower on Thursday as oil prices pressed higher amid signs that the U.S.-Israeli war with Iran is widening across the Middle East, threatening further disruption to energy supplies.
Oil prices spiked above $100 a barrel before dipping back under, as Iran escalated its attacks on energy infrastructure across a wider swath of the Middle East. Iraq closed its oil port terminals after strikes on two tankers off its coast.
Iran warned markets to be ready for crude prices to hit $200, while its new supreme leader, Mojtaba Khamenei, said the Strait of Hormuz should stay closed. The developments stoked fears of a prolonged and widespread conflict, already in play after President Trump vowed to "finish the job" in Iran.
Daily Market Coverage Mar. 12, 2026 9AM-11AM (ET) | Yahoo Finance
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