Oil Prices Surge, Markets Dip Amid Hormuz Tensions

0:00On April 7th, Wall Street Futures dipped ahead of the open, with S&P 500 and Dow Jones down 0.5% and Nasdaq down 0.7% all-tie 2, rising tensions over the straight of Hormuz. Oil prices surged to near four-year highs, US crude hitting $114.87 a barrel, up 2.2% while Brent. Climbed 1% to $110.82, as the US deadline for Iran to reopen the vital shipping route looms. US airstrikes hammer Tehran, an Iranian officials called on youth to shield power plants with human chains right before President Trump's. Ultimatum expires, threatening to wipe out Iran's infrastructure if the straight stays choked, due which 1-5th of global oil flows in normal times. World leaders slam the threats as potential war crimes, and with oil up over 70% since late February attacks, economies worldwide feel the squeeze. Iran shut down the latest ceasefire, demanding a full war end instead.

1:02Meanwhile, Bill Ackman's Pershing Square tossed out a $64 billion cash and stock bid for Universal Music Group, sending its shares of 10%. Percent in Amsterdam, as Asia markets mostly climbed, and Europe stayed mixed, keeping investors on edge for what's next in this standoff. This has been Global News Today, powered by AI.