Commodities
Oil Prices Surge Past $96 a Barrel as Wall Street Indices Slide
Wall Street's main indices closed lower on Wednesday due to surging crude oil prices amid geopolitical tensions. The Dow Jones Industrial Average fell by 405 points, or 0.77%, to finish at 52,380.
The tech-heavy Nasdaq Composite dropped 168 points, or 0.64%, to end at 26,253. Meanwhile, the S&P 500 index slipped approximately 37 points, or 0.48%, closing at 7,636.
Crude oil prices rose by more than $3 to settle at $96.63 per barrel, with West Texas Intermediate (WTI) leading the charge. The sudden increase in oil prices put pressure on Wall Street's main indices.