US Equity Markets Close Lower as Oil Prices Surge on Widening Middle East Tensions

MT Newswires Live

07/24

US equity indexes ended lower Thursday as crude oil prices jumped after Iran-aligned Houthis claimed attacks on Saudi Arabian tankers.

* Iran flew Islamic Revolutionary Guard Corps commanders, military advisers, and missile- and drone-related equipment into Yemen this month, according to four sources cited by Reuters, in a move suggesting Tehran is seeking to strengthen its Houthi allies' ability to threaten Red Sea shipping.

* Houthi rebels said they attacked two Saudi tankers in the Red Sea on Thursday, according to a report from the Associated Press, further heightening Middle East export concerns.

* August West Texas Intermediate crude oil rose $4.71 to settle at $91.45 per barrel, while September Brent crude, the global benchmark, was last seen up $5.81 at $99.88.

* Allegion (ALLE) shares rose 10%, the top gainer on the S&P 500, after the company reported higher Q2 results and raised its 2026 outlook.

* Tesla (TSLA) shares fell 15%, the biggest drop on the S&P, a day after a surprise decline in Q2 adjusted earnings.

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