Wall Street points toward gains as oil prices soar amid fears about escalation in Iran [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq all climbed 0.6% before the opening bell. Wall Street closed on Friday with its fifth straight losing week , its longest such streak in nearly four years. Benchmark U.S. crude jumped $1.20 to $100.84 a barrel. Futures for Brent crude, the international standard, climbed 2.1% to $107.54 a barrel. Before the war, Brent had been priced at about $70 a barrel. U.S. President Donald Trump on Monday threatened widespread destruction of Iran's energy resources and other vital infrastructure if a deal to end the war with Tehran is not reached soon. In a social media post, Trump said “great progress is being made” in talks with Iran to end military operations but bristled that if a deal is not reached and if the strategic Hormuz Strait is not immediately reopened, the U.S. would broaden its offensive by “completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinizat
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