Brief

US stocks dip as oil prices swing amid renewed Iran war fears

US equities slipped after oil prices rose on fresh concerns about Iran attacks, then fell when the IEA signalled strategic‑reserve releases.

By Felo News Desk · Published Thu, 08 Oct 2026 09:16:06 GMT

Wall Street closed lower on Wednesday after oil prices rose on renewed worries about Iran’s attacks on tankers in the Strait of Hormuz, then fell when the International Energy Agency (IEA) said member states were ready to release more strategic reserves, according to Al Jazeera.

US Treasury yields climbed to their highest level in more than 20 years, pushing the 30‑year yield to a 24‑year high, while the Nasdaq and S&P 500, which had hit record peaks the day before, slipped. The Dow Jones fell 0.26% to 51,349.92 points.

Oil prices initially rose after a report that Iran was stepping up attacks on tankers, with nine attacks recorded in the Strait of Hormuz in September, half of the month’s total. Prices later fell after the IEA announced that member countries stood ready to release additional oil, prioritising diesel, to ease supply concerns.

US Secretary of State Marco Rubio reiterated Washington’s claim that it controls the strait and that oil flows are near normal. Maritime intelligence firm Kpler reported Gulf oil flows, excluding Iran, recovered to more than 81% of pre‑war levels in September, despite higher freight, insurance and security costs for shipping companies.

Key facts

US stocks fell on Wednesday, with the Dow down 0.26% to 51,349.92 points. (aljazeera.com)
30‑year Treasury yields rose to a 24‑year high, reaching 5.62%. (aljazeera.com)
Oil prices rose after reports of increased Iranian attacks on tankers, then fell after the IEA said reserves could be released. (aljazeera.com)
The IEA said member states would prioritise diesel when releasing additional strategic reserves. (aljazeera.com)
Marco Rubio said the US controls the Strait of Hormuz and oil flows are close to normal. (aljazeera.com)