U.S. stock markets opened lower on Thursday, with major indices taking a pause following a strong performance in the previous trading session. Investors are closely monitoring the ongoing rise in crude oil prices.

The Dow Jones Industrial Average fell by 327.87 points, or 0.67%, to 48,411.54. The Nasdaq Composite dropped 95.55 points, or 0.42%, to 22,711.93, while the S&P 500 declined 27.54 points, or 0.40%, to 6,841.96.

West Texas Intermediate crude futures rose 3%, trading above $76 per barrel. Meanwhile, the international benchmark Brent crude futures increased more than 2%, surpassing $83 per barrel.

On Wednesday, stocks closed higher, supported by gains in technology and semiconductor giants. The Dow ended a three-day losing streak, and both the S&P 500 and Nasdaq Composite posted solid gains for the day.

Savita Subramanian, Head of U.S. Equity and Quantitative Strategy at Bank of America Securities, commented, "Conditions are changing at the margin. Clearly, we are facing a geopolitical shock, and we are still analyzing how it might affect equity risk premiums."

She added, "But beyond that, I think what we're seeing is that the tide is slowly receding for some beneficiaries of the extremely low interest rate environment."

After surging earlier in the week, oil prices stabilized on Wednesday. WTI crude futures settled up 0.13%, while Brent crude futures ended unchanged.

U.S. President Donald Trump stated on Tuesday that the United States is preparing to provide risk insurance and escort services for vessels in the Persian Gulf to ensure safe passage through the Strait of Hormuz. His remarks helped ease market concerns about potential disruptions to regional oil and gas supplies.

However, it remains unclear when the Strait, which handles about 20% of global oil shipments, will be deemed safe for tanker traffic, as the White House has not provided a timeline.

U.S. Secretary of Defense Mark Esper briefed reporters, stating that the United States has "decisively prevailed" in the conflict with Iran and that additional troops are arriving in the region.

In other news, U.S. Treasury Secretary Janet Yellen indicated that the recently announced global minimum corporate tax rate of 15% could take effect this week.