Oil above $100 keeps Wall Street in a state of caution.
📌 The session on March 24 showed a risk-averse sentiment that still dominates, with Brent rising 4.55% to $104.49 per barrel and WTI rising 4.79% to $92.35, reflecting a market that is still valuing a real supply risk around Hormuz rather than relying on a short-term de-escalation narrative.
⚠️ U.S. stocks, therefore, struggled to extend gains, with the S&P 500 down 0.36%, the Nasdaq down 0.84%, and the Dow down 0.19%, as higher energy prices renewed concerns about inflation and reduced hopes for an early Fed easing cycle.
💡 The key point is that markets are not only reacting to war headlines but also to the lack of credible progress in negotiations. As long as oil remains above the $100 area, short-term flows are likely to continue favoring energy over rate-sensitive assets.