Oil prices skyrocketed after Israel’s attack on Iran’s South Pars gas field, with Brent crude futures reaching $107.38 a barrel and Dubai oil surging above $155 a barrel. The conflict has sent shockwaves through the energy market, causing widespread damage and fueling concerns over inflation.
Analysts say these price hikes are a more accurate reflection of the region’s energy crisis. The Federal Reserve held interest rates steady, but warned that the oil shock could increase price pressures and hurt economic growth. Wholesale inflation also rose unexpectedly in February, adding to concerns about inflation.
Source: https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-03-19-2026/card/higher-for-longer-heard-on-the-street-wednesday-recap-aqtKkMRC73axIKEHm65Z