Stocks Jump as Brent Crude Pulls Back From $105

1 week ago 15

Ed Ballard

Mon, March 16, 2026 astatine 11:44 AM CDT 1 min read

Trump has sought to unit countries to assistance support commercialized done the Strait of Hormuz.

U.S. stocks rallied and lipid prices pulled backmost Monday arsenic efforts to reconstruct the travel of lipid done the Persian Gulf intensified.

The Dow industrials precocious astir 300 points, paring immoderate greeting gains. Ten of 11 sectors of the S&P 500 were up, and the Nasdaq composite and S&P 500 besides added little than 1%.

Futures for Brent crude, the planetary benchmark, retreated aft concisely pushing past $105 a tube earlier. WTI crude futures fell astir 3.5%.

President Trump spent the play moving connected gathering a conjugation of countries to escort ships done the Strait of Hormuz, but U.S. allies look noncommittal truthful far. Energy Secretary Chris Wright said precocious gasoline prices could past “a fewer much weeks.”

Trump said the U.S. spared lipid facilities successful its bombardment of Kharg Island, Iran’s cardinal export hub, connected Friday, but warned helium would reconsider that determination if Iran doesn’t unfastened Hormuz.

The war’s economical fallout volition beryllium successful absorption for economical policymakers this week, which brings interest-rate decisions from the Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of England.

This week could besides beryllium a engaged 1 for artificial-intelligence news, with Nvidia CEO Jensen Huang scheduled to springiness a keynote code astatine the spot maker’s AI league astatine 2 p.m. ET Monday.

Write to Ed Ballard astatine [email protected]