A missile attack by Iran on a US military base in Qatar has led to a significant decline in oil prices and an unexpected surge in the stock market. The Dow Jones Industrial Average rose 375 points, or 0.9%, while the S&P 500 gained 1%. Oil futures plummeted, with Brent crude falling 7.2% to $71.48 a barrel and WTI crude dropping 7.2% to $68.51 a barrel.
The attack, which sparked fears of further retaliation, saw oil prices initially rise before falling as markets began to price in the possibility of de-escalation in the Middle East. The decline in oil prices has had a positive impact on the stock market, with investors taking advantage of the opportunity to buy stocks at lower levels.
Source: https://www.barrons.com/livecoverage/stock-market-news-today-062325/card/why-iran-s-retaliation-led-oil-prices-to-fall-and-the-s-p-500-to-jump-1–vQTI6SxtWOh60H3vevyR