Crude oil futures jumped to $90.50 after President Trump warned Iran it would be "totally wiped out as a country" if it strikes back a third time. The comments, made on a call with Fox News, pushed oil to its highest level since July 26 and rattled stocks and bonds.
Crude oil futures climbed to $90.50, up $4.75 on the session — the highest level since July 26, when prices touched a high of $93.50.
Trump threatens a third strike
Speaking on a call with Fox News, Trump said a third Iranian response would leave the country "totally wiped out as a country." He added that any agreement with Iran isn't worth the paper it's written on, arguing the US had already given Tehran a lot of chances.
The president also said the USS George Washington is loaded with munitions, while Iran's Revolutionary Guard said the US would regret its latest strikes.
Stocks and bonds react
Wall Street pulled back on the escalation, with the Dow falling 0.84% and the S&P 500 down 0.80%, while the Nasdaq Composite dropped 1.13%.
Treasury yields ticked higher across the curve, with the two-year yield up 4.1 basis points to 4.391% and the 10-year adding 2.6 basis points to 4.794%.
Source: investingLive
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