{"id":71604,"date":"2026-09-09T17:38:12","date_gmt":"2026-09-09T21:38:12","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-surges-above-100-amid-middle-east-conflict-major-indexes-retreat\/71604\/"},"modified":"2026-09-09T17:38:12","modified_gmt":"2026-09-09T21:38:12","slug":"brent-crude-surges-above-100-amid-middle-east-conflict-major-indexes-retreat","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-surges-above-100-amid-middle-east-conflict-major-indexes-retreat\/71604\/","title":{"rendered":"Brent Crude Surges Above $100 Amid Middle East Conflict; Major Indexes Retreat"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Brent crude <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> surged 3.4% to eclipse $101 per barrel<\/strong>, the first time since July, following escalating military hostilities between the <strong>U.S.<\/strong> and <strong>Iran<\/strong> in the Persian Gulf.<\/li>\n<li><strong>Major U.S. stock indexes fell sharply<\/strong> as the energy price shock revived inflation fears, with the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/strong> (<a href=\"\/stock\/DJI\">DJI<\/a>) dropping 0.8% and the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> (<a href=\"\/stock\/SPX\">SPX<\/a>) losing 0.5%.<\/li>\n<li><strong>The U.S. Treasury Department increased its bond buyback operations to $6 billion<\/strong>, aiming to support liquidity in longer-dated securities as 10-year yields hit new 52-week highs.<\/li>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) unveiled the iPhone 18 Pro and Pro Max<\/strong> featuring a new &quot;A20 Pro&quot; chip and variable aperture cameras, though the product launch was overshadowed by broader market volatility.<\/li>\n<li><strong>Chewy (<a href=\"\/stock\/CHWY\">CHWY<\/a>) reported strong Q2 2026 results<\/strong>, with net sales rising 7.3% to <strong>$3.33 billion<\/strong>, beating guidance despite a cautious consumer environment.<\/li>\n<\/ul>\n<h2>Market Volatility Driven by Energy Shock<\/h2>\n<p>Wall Street faced significant downward pressure on Wednesday as <strong>Brent crude oil<\/strong> jumped above the <strong>$100-a-barrel<\/strong> threshold. The surge followed reports that the U.S. military struck several Iranian tankers in response to ballistic missile attacks on a Navy warship. This rapid escalation in the Middle East has raised immediate concerns regarding the flow of oil through the <strong>Strait of Hormuz<\/strong>, a critical maritime chokepoint.<\/p>\n<p>The spike in energy costs has complicated the outlook for the <strong>Federal Reserve<\/strong>, as investors worry that higher fuel prices will stall recent disinflationary trends. Market participants are now closely watching the upcoming <strong>August Producer Price Index (PPI)<\/strong> and <strong>Consumer Price Index (CPI)<\/strong> reports, which will be the final data points before the Fed&#39;s interest rate decision next week.<\/p>\n<h2>Treasury Liquidity Operations<\/h2>\n<p>In a bid to stabilize the fixed-income market, the <strong>U.S. Treasury Department<\/strong> announced it would buy back <strong>$6 billion<\/strong> in government debt. This figure represents a significant increase from the previous <strong>$2 billion<\/strong> limit but fell at the lower end of some analysts&#39; expectations. The move is intended to provide liquidity support for longer-dated nominal coupon securities, particularly in the 10-year to 30-year sectors.<\/p>\n<p>Despite the intervention, <strong>Treasury yields<\/strong> continued to climb, with the 10-year note reaching new 52-week highs. Analysts noted that while the buybacks are a positive step for market functioning, they may not be enough to counter the &quot;risk-off&quot; sentiment triggered by geopolitical instability and rising inflation expectations.<\/p>\n<h2>Corporate Highlights: Apple and Chewy<\/h2>\n<p>In the technology sector, <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> held its highly anticipated September event, debuting the <strong>iPhone 18 Pro<\/strong> series. The new devices feature &quot;Siri AI&quot; and advanced camera systems powered by the <strong>A20 Pro<\/strong> silicon. While the hardware upgrades were well-received, the stock traded lower alongside the broader tech-heavy <strong>Nasdaq Composite<\/strong> (<a href=\"\/stock\/IXIC\">IXIC<\/a>), which fell 0.6%.<\/p>\n<p>Meanwhile, <strong>Chewy (<a href=\"\/stock\/CHWY\">CHWY<\/a>)<\/strong> provided a bright spot in the retail sector, reporting a net income of <strong>$80.5 million<\/strong> for the second quarter. The pet e-commerce giant saw its adjusted EBITDA margin expand by 90 basis points to 6.8%, driven by strong demand for its health and pharmacy services.<\/p>\n<h2>Other Business Developments<\/h2>\n<p>In the telecommunications sector, <strong>Verizon (<a href=\"\/stock\/VZ\">VZ<\/a>)<\/strong> declared a quarterly dividend of <strong>70.75 cents<\/strong> per share, maintaining its commitment to returning capital to shareholders. CEO <strong>Dan Schulman<\/strong> emphasized the company&#39;s ability to generate sustainable cash flow despite the volatile economic backdrop.<\/p>\n<p>Additionally, the <strong>NFIB Small Business Optimism Index<\/strong> dipped slightly in August to <strong>98.7<\/strong>. Small business owners cited labor costs and persistent uncertainty as primary concerns, with many adopting a &quot;wait-and-see&quot; approach ahead of the upcoming U.S. midterm elections.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Brent crude oil prices surged 3.4% to eclipse $101 per barrel, the first time since July, following escalating 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