By William Collins, consultant in stock markets – Eurasia Business News, March 9, 2026. Article no 2045

Oil prices gave up part of the sharp gains that had briefly pushed crude above $100 per barrel early Monday, while equity markets recovered somewhat from their initial losses as investors assessed the possibility that emergency crude reserves could be released to offset disruptions caused by the conflict with Iran.

Overnight, Brent crude, the international benchmark, surged and reached its highest intraday level since mid-2022. Prices later retreated, slipping back below the $100 threshold. The U.S. benchmark crude also pulled back significantly, falling more than 20% from its intraday peak above $119 and recently trading near $94 per barrel.

Brent crude approached $120 late Sunday, slipping back to around $100 Monday morning. There is no exact number at which governments and consumers react to costlier oil. Between $110 and $120 a barrel is where demand for crude starts to erode, according to energy analysts. Though not cataclysmic, sustained prices at these levels will do damage.

Equity markets opened the day under pressure but trimmed losses as oil prices eased. The Dow Jones Industrial Average declined about 0.6%, while the S&P 500 slipped 0.1%. The Nasdaq Composite, after initially falling, managed to edge into slightly positive territory.

Following an emergency meeting, the Group of Seven (G7) signaled that it stands ready to release strategic petroleum reserves if necessary to help stabilize global energy markets. France’s finance minister indicated that such measures remain under consideration, particularly as oil producers in the Gulf reduce output and shipping routes remain severely disrupted.

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Gold prices hovered around $5,090 per ounce amid Middle East tensions.

Earlier in the day, Asian equity markets experienced steep declines. South Korea’s benchmark index dropped roughly 6%, while Japan’s Nikkei 225 fell about 5%.

Bond markets also reflected heightened uncertainty. The yield on the 10-year U.S. Treasury note briefly climbed above 4.2% before easing back to around 4.13%. Meanwhile, the U.S. dollar strengthened. Investors remain concerned that the surge in energy prices could fuel inflationary pressures while simultaneously slowing economic growth, raising fears of a potential stagflationary environment.

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© Copyright 2026 – Eurasia Business News. Article no. 2045