Global oil prices soar
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US stocks fall on Israel-Iran worries, with Dow down xxx pts. Oil rises on supply worry. Gold hit a record high and US dollar rises on flee to safety.
1don MSN
Treasury yield jumped 6.9 basis points on Friday to $4.426, reversing a dip in the immediate aftermath of the attacks.
Hedge funds took the most bullish stance on US crude since January in the week before Israel launched strikes against Iran’s nuclear program, putting them in a position to profit from this week’s jump in oil prices.
JPMorgan Chase & Co. said oil could reach $130 in a worst-case scenario. The US and Iran are scheduled to hold a sixth round of nuclear talks in Oman on Sunday.