Stocks fall as oil prices surge again amid doubts over potential U.S.-Iran talks [MSNBC.com]
JP Morgan Chase & Co. (JPM)
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Source: MSNBC.com
U.S. stocks and bonds sold off and oil continued its weeks long upward trajectory Thursday morning, as optimism faded about possible peace talks or a U.S.-Iran ceasefire.Thursday also marks 48 hours until the expiration of President Donald Trump's5-day pause on strikesIn a social media post, Trump appeared to indicate that talks with the Iranian regime were not progressing. "The Iranian negotiators are very different and 'strange,'Trump wrote on Truth SocialThe price of U.S. crude oil approached $95 per barrel, up more than 4.2%. International Brent crude rose 4.5%, to more than $107 per barrel. Since the war started, the cost of U.S. crude oil is up more than 40%. Since the start of the year it has risen more than 60%.Heating oil, a proxy for jet fuel prices, also spiked 6% early Thursday."Several factors are responsible" for this jump in oil prices, wrote Jim Reid, Deutsche Bank's global head of macro and thematic research, in a note to clients. "A big one is that Iran has continued
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