Oil prices surged more than 4% at their high in early trading on Tuesday night after Pentagon officials said that Iran launched more than a dozen ballistic missiles against multiple bases in Iraq housing U.S. troops.
U.S. West Texas Intermediate crude futures spiked 4.5%, or $2.85, to a session high of $65.65, its highest level since April, before pulling back to $64.11. International benchmark Brent crude rose more than 4% to a session high of $71.75 per barrel, its highest since September, before pulling back to $69.86
U.S. stock futures plunged on Tuesday night, with the Dow Jones Industrial Average futures dropping more than 400 points at the low, indicating a loss greater than 300 points at Wednesday’s open. S&P 500 and Nasdaq 100 futures pointed to losses of at least 1%.
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