US Stock Futures Plunge as Oil Surpasses $115 Amid Middle East Conflict

2026-03-09 - 08:55

United States stock futures fell sharply early Monday as global oil prices surged past $115 per barrel. The market declines followed escalating military conflict involving the U.S., Israel, and Iran, which disrupted Middle Eastern energy supplies and triggered widespread investor anxiety regarding inflation. Dow Jones Industrial Average futures dropped more than 1,000 points, or 2.3 percent. S&P 500 futures declined 2.1 percent, and Nasdaq 100 futures fell 2.4 percent. International markets absorbed similar losses in early trading. Japan’s Nikkei 225 index dropped 7 percent, and South Korea’s Kospi lost almost 8 percent. West Texas Intermediate crude increased up to 30 percent, approaching $120 per barrel. Brent crude reached approximately $116 per barrel, marking the highest market valuations since 2022. The energy price surge correlates with maritime obstructions in the Strait of Hormuz. Regional producers, including Kuwait and the United Arab Emirates, reduced crude output as storage facilities approached maximum capacity. “The escalating conflict definitely has got some panic buying going,” stated Phil Flynn, a senior market analyst at the Price Futures Group. The weekend futures movement follows a negative close for domestic equities. The Dow Jones Industrial Average finished the previous week 3 percent lower. The S&P 500 fell 2 percent, and the Nasdaq dropped 1.2 percent following weaker-than-expected payrolls data. This article is for informational purposes only and does not constitute financial advice.