Stocks drop, oil jumps as Mideast war persists

NEW YORK, United States — Stocks tumbled while oil prices pushed higher Friday at the end of a turbulent week. Attacks on Gulf energy infrastructure rattled global markets and sparked fears of a global economic slowdown. Crude prices jumped further on Friday with the international benchmark, Brent crude, rising 3.3 percent on Friday to nearly $112.19 per barrel. The main US contract, West Texas Intermediate, rose 2.3 percent to over $98 per barrel. Angelo Kourkafas of Edward Jones, said this week’s assaults on energy infrastructure deepened the market’s concerns. READ: Oil price shocks may slow Philippine recovery, strain fiscal position — Fitch “What […]... Keep on reading: Stocks drop, oil jumps as Mideast war persists