By William Collins, consultant in stock markets – Eurasia Business News, March 2, 2026. Article no 2042
Oil prices surged after U.S. and Israeli strikes on Iran showed signs of sparking a widening conflict across the Middle East, started by the strikes on Iran on February 28 morning.
The U.S. dollar and Swiss franc rallied amid a broad investor flight to safety. Gold futures rose around 1.2%.
Stocks fell sharply at the open, only to quickly pare losses on Monday morning. The Dow Jones Industrial Average and S&P 500 edged lower, while the Nasdaq composite clung to a small gain.
By late morning/around lunchtime, reporting indicated that the Dow was roughly flat to slightly down while the tech‑heavy Nasdaq was up about 0.2–0.3%, having recovered from losses of more than 1% earlier in the session.
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Futures for Brent crude oil, the global energy benchmark, rose 6.7%, fueled by fears of a protracted closure of the key Strait of Hormuz corridor and attacks on Mideast energy infrastructure.
European gas prices surged, getting an extra boost after the world’s largest liquefied natural-gas producer halted output.
Gold was trading around the mid‑5,300 to mid‑5,400 dollars per ounce range on March 2, reflecting a sharp safe‑haven bid during the Iran crisis. Silver prices were around 90 dollars per ounce that day, also elevated alongside gold as investors moved into precious metals.
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© Copyright 2026 – Eurasia Business News. Article no. 2042
Eurasia Business News 