Commodities
Oil Relief Fades Geopolitical Premium as U.S. Stocks Open Higher
U.S. stocks began trading on August 3, 2026, with the New York Stock Exchange opening for the session at 12:06 p.m. EDT.
The S&P 500 was up 1.2%, while the Dow climbed 1.1% and the Nasdaq increased 1.8% by 11 a.m. EDT.
The airline ETF saw a gain of 3.80%, but the energy ETF declined 0.71%, creating a spread of 4.51 percentage points between them.
This trend suggests that investors are unwinding a geopolitical supply premium, rather than anticipating a drop in demand for fuel.
The decline in oil prices was driven by politics, with President Donald Trump announcing that talks would begin on Monday, but Iran stated no discussions were underway or planned.