US stocks ended lower after oil prices surged and chipmakers sold off, leaving the Nasdaq with the steepest decline among major indexes.
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Tag:
West Texas Intermediate
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Brent crude climbed above $79 while WTI passed $74 as fresh US-Iran attacks coincided with reduced shipping through the Strait of Hormuz.
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Brent crude closed at $74.16 while WTI settled at $70.44, with oil markets tracking Iranian oil rules and Strait of Hormuz shipping.
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Oil prices extended gains, settling above $72 a barrel as supply concerns, OPEC+ policy uncertainty, and a weaker U.S. dollar supported crude amid market volatility.