Oil jumps, stocks slide ahead of U.S. stock market open as Iran war rounds one month
By Rob Wile
Published on March 30, 2026.
Global oil prices have surged and U.S. stock futures have dropped ahead of the market open due to the Iran-backed Houthi militants launching ballistic missiles at Israel and the arrival of 3,500 additional US troops in the Middle East. The global benchmark Brent crude oil price rose by 3% to more than $116 a barrel, the highest level since the conflict started. Investors have begun to question President Donald Trump's ability to calm markets without significant progress being made on the ground. Despite this, Trump has suggested that an Iran deal could be made quickly.
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