Wall Street is on edge as Trump and Tehran issue conflicting statements around peace talks.
Markets continue to be driven by the US-Israeli war with Iran, as Tehran and Tel Aviv launched fresh strikes on Thursday amid growing warnings about the economic cost of the conflict. With two days left of the US pause on Iran power plant strikes, the sides remain at odds over a potential ceasefire, and President Trump amped up his rhetoric on Thursday, warning Iran to "get serious" and make a deal before it is "too late."
Brent crude futures (BZ=F) held above $100 as the mixed signals dampened earlier hopes for an imminent easing in hostilities. West Texas Intermediate (CL=F) crude moved above $94 before slightly pulling back.
Meanwhile, fears of a US recession are building as the oil rally threatens disruption and higher prices for already rattled consumers and markets assess how much weight the Federal Reserve will give the oil spike in its policy deliberations. Data from the Bureau of Labor Statistics published on Thursday morning showed 210,000 initial jobless claims, in line with expectations.
Daily Market Coverage Mar. 26, 2026 9AM-11AM (ET) | Yahoo Finance
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