Commodities
Middle East Tensions Fuel US Stock Market Volatility
US stock markets traded in mixed fashion on Tuesday as tensions in the Middle East drove oil prices to their highest level since late July. Brent crude futures rose above $98 a barrel following Houthi attacks on Saudi oil infrastructure.
The attacks targeted the Bab al-Mandab Strait, an important route for Saudi crude shipments, after Iran imposed a blockade on the Strait of Hormuz.
Major US indices saw varying performances: the Dow Jones Industrial Average fell 0.57% to 53,110.45, while the S&P 500 dropped 0.01% to 7,717.81. The Nasdaq Composite, however, rose 0.08% to 26,528.571.
Investors are now focusing on upcoming inflation readings, which could influence the Federal Reserve's interest-rate decision on September 16.