Brent crude oil over $85, fear index soars 18%: Iran steps up military rhetoric

Iran said it is "not asking for a ceasefire" from the U.S. and Israel and "sees no reason why the country should negotiate" after nearly a week of military operation, CNBC reported . Iranian Foreign Minister Abbas Araghchi said in an interview with NBC News that Tehran is not afraid of a ground invasion because it would be able to stand up to the U.S. military. "And it would be a big disaster for them," the official warned.

At the same time, Iran reported that it had launched a missile attack on an oil tanker, such information was reported by the country's state media, they are quoted by CNBC. There is no independent confirmation of the attack yet, the channel points out. But futures for North American WTI crude jumped above $80 per barrel, the highest level since January last year. Their growth for the day amounted to about 8%. The price of Mark Brent jumped 5% to $85.5 per barrel.

Leading U.S. stock indices have intensified their decline. At the time of publication of this text, the S&P 500 index and the Nasdaq Composite were losing about 1.3% each, while the Dow Jones collapsed by more than 2%.

The VIX Volatility Index, also called the Wall Street Fear Indicator, soared 18% and is trading just below the 25-point mark. The psychologically important level is considered to be 20 points.

The stock sell-off was led by Boeing, Caterpillar and other companies that would be hardest hit if the global economy slows.

Semiconductor stocks also came under pressure after Bloomberg reported that U.S. officials have proposed rules that would require U.S. companies to get permission to export all AI chips. Shares of Nvidia fell 1.7%, while Advanced Micro Devices fell 3.3%.

Yields on two-year U.S. government bonds are on track for their strongest four-day rise since October 2024 as higher energy prices add to inflation concerns, Bloomberg notes.

The news is being updated.

This article was AI-translated and verified by a human editor