Stock Futures Get Hit By Late Oil Spike - Iranian Attack?
U.S. stocks fell on Tuesday after a weak consumer confidence report fueled concerns the housing slowdown could spread into the broader economy and hurt profits.
After the closing bell, US. crude oil futures spiked up $5 a barrel on geopolitical concerns tied to Iran, sending U.S. stock futures sharply downward in electronic trading.
For a brief instant shortly before 5 p.m. EDT (2100 GMT), U.S. crude for May delivery surged to $68.09 per barrel, its highest level since September 6, 2006, but later pulled back to around $64.50.
Asked to comment after the price spike, a U.S. Navy official told Reuters there was nothing to substantiate a rumor of an Iranian military strike on a U.S. vessel in the Gulf.
The White House also said there was nothing to indicate any military incident taking place regarding Iran. The rumor was that an Iranian missile was fired at a US warship in the gulf during these war games. I'll bet it happened and the media was told to suppress the information because they want Britain to be the aggressor after the abduction of their naval officers
After the closing bell, US. crude oil futures spiked up $5 a barrel on geopolitical concerns tied to Iran, sending U.S. stock futures sharply downward in electronic trading.
For a brief instant shortly before 5 p.m. EDT (2100 GMT), U.S. crude for May delivery surged to $68.09 per barrel, its highest level since September 6, 2006, but later pulled back to around $64.50.
Asked to comment after the price spike, a U.S. Navy official told Reuters there was nothing to substantiate a rumor of an Iranian military strike on a U.S. vessel in the Gulf.
The White House also said there was nothing to indicate any military incident taking place regarding Iran. The rumor was that an Iranian missile was fired at a US warship in the gulf during these war games. I'll bet it happened and the media was told to suppress the information because they want Britain to be the aggressor after the abduction of their naval officers
Labels: Iran, Iranian missile, Oil Prices, Stock Futures
posted by Stock Administrator @ 9:36 PM
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