Brent Hits $116.28, Nearing Postwar Settlement High; Energy Stocks Set Record as Market Sells Off
NEW YORK — Brent crude futures rose 2.8% to $116.28 a barrel on October 23, approaching the postwar settlement high of $118.35 seen on March 31, MarketWatch and Reuters reported, citing Dow Jones Market Data.
The energy sector was the day's big winner amid a broader market selloff. The State Street Energy Select Sector SPDR ETF (XLE) rose 2.2% to $69.07, on track for its 23rd record close since the start of the U.S.-Iran war, above the prior record closing price of $68.24 reached on Oct. 16. U.S. WTI crude gained about 3% to around $102.40 a barrel.
U.S. stocks fell Friday morning: the Dow Jones Industrial Average dropped as much as about 700 points in early trading (New York Post), narrowing to a decline of about 550 points by late morning (AP). The S&P 500 fell about 0.5%, on course for a second consecutive weekly decline, while the Nasdaq traded roughly flat a day after its worst session since June. The national average gasoline price hit $4.29 a gallon, according to AAA, $1.22 above a year ago.
President Trump accused Iran on Truth Social of "lying" to drive up oil prices, claiming Tehran is "making up fake hits, mines, and everything else, because more oil is coming through the Hormuz Strait now than even prior to the beginning of the conflict." Iran's Revolutionary Guard said Thursday that four vessels were struck and caught fire in the Gulf, while another three struck mines in the strait, according to a state-backed news agency.
Bitcoin briefly dipped below $81,000, extending the slide covered in our earlier report.
(GSM, based on MarketWatch and Reuters)
Published by GSM · USA (original Chinese edition)
Photo: 油田抽油机（资料图）。照片：Arne Hückelheim，CC BY-SA 3.0，经 Wikimedia Commons。 / Pumpjacks in an oil field (file photo). Photo: Arne Hückelheim, CC BY-SA 3.0, via Wikimedia Commons.
