Oil Prices Slide to $102 as Financial Markets Rebound

Financial markets are rebounding on September 17th as oil prices slide to $102 per barrel. The decline in crude oil is easing concerns about inflation, which had been fueled by potential supply disruptions in the Middle East.

The S&P 500 futures and Nasdaq 100 futures are both rising, with gains of around 0.9% and 1.1%, respectively. Brent crude prices have fallen nearly 3% today after two consecutive sessions of losses.

U.S. initial jobless claims came in below expectations at 196K, compared to the forecast of 206K. The strong labor market reading is supporting the U.S. dollar, which remains relatively stable.