Oil surges nearly 4% on Hormuz tensions; Dow slips from record close

nzherald.co.nz

Oil prices surged Thursday, with Brent adding nearly 4%, as traders worried about Strait of Hormuz tensions, while global stocks were mixed. The rebound weighed on US equities, with the Dow falling 0.9% from a record close and the Nasdaq ending flat. Reports of a potential agreement barring US and Israeli vessels from the Strait dampened optimism, said analyst John Kilduff. The situation remains unsettled, Kilduff said, with markets taking back some optimism. Trading occurred ahead of key US employment data due Friday.


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