{"id":5688,"date":"2026-03-11T17:39:42","date_gmt":"2026-03-11T17:39:42","guid":{"rendered":"https:\/\/marketsfortress.com\/index.php\/2026\/03\/11\/oil-prices-sink-stocks-jump-in-dramatic-reversal\/"},"modified":"2026-03-11T17:39:42","modified_gmt":"2026-03-11T17:39:42","slug":"oil-prices-sink-stocks-jump-in-dramatic-reversal","status":"publish","type":"post","link":"https:\/\/marketsfortress.com\/index.php\/2026\/03\/11\/oil-prices-sink-stocks-jump-in-dramatic-reversal\/","title":{"rendered":"Oil prices sink, stocks jump in dramatic reversal"},"content":{"rendered":"

Stocks and energy prices staged a remarkable reversal Monday afternoon after President Donald Trump told CBS News<\/a> that the war in Iran was \u201cvery complete, pretty much.\u201d<\/p>\n

Trump repeated that message later in the day at a Florida press conference, where he said the U.S. is “achieving major strides toward completing our military objectives.”<\/p>\n

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“This was just an excursion into something that had to be done,” Trump said. “We\u2019re getting very close to finishing that, too.”<\/p>\n

After having soared as much as 32% overnight to $119 per barrel, the price of U.S. crude oil plunged around 5%, to around $86 per barrel by 4 p.m. ET. International Brent crude oil also dropped, by more than 3.5%, to less than $89 per barrel.<\/p>\n

U.S. equities markets also sharply reversed. The S&P 500, which had fallen as much as 1.5%, ended the day higher by 0.83%. The Nasdaq Composite, which earlier tumbled as much as 1.4%, ended the day in the green by 1.38%.<\/p>\n

The Dow Jones Industrial Average clawed back a more than 880 point drop to wrap up the trading day higher by 239 points. <\/p>\n

Still, the price of U.S. crude oil has risen more than 50% since the start of the year and more than 30% over the last five days.<\/p>\n

As of Monday afternoon, the average price of U.S. retail gasoline nationwide had hit $3.49 a gallon, continuing its sharp march higher. Since the war began, the average price per gallon has risen more than 50 cents, according to the price-tracking service GasBuddy.<\/p>\n

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In Japan, the broad Nikkei 225 recorded its worst day since last April\u2019s tariff-induced sell-off, tumbling 5.2%. The index also entered correction territory, which is when a stock or an index falls 10% or more from its most recent record high.<\/p>\n

South Korea\u2019s Kospi index also tumbled 6%, and at one point it was halted for 20 minutes on heavy selling. In Europe, the Stoxx 600 index closed down 0.6% as markets in Germany, France, Italy and Spain dropped around 1%.<\/p>\n

Bonds, which earlier sold off, also finished the day higher. As a result, the 10-year U.S. government bond yield dipped to 4.10% and the 30-year bond yield dropped to 4.71%.<\/p>\n

Natural gas prices also tumbled, with futures traded in New York falling 4% by 4 p.m. ET and futures traded in Europe pulling back from an earlier sharp rise to trade higher by only 5%.<\/p>\n

Heating oil, which can be a proxy for jet fuel, also dropped by more than 8% after having traded higher by 23%.<\/p>\n

Finance ministers of leading industrialized nations held a video conference Monday to discuss a potential joint release of oil reserves in a bid to ease skyrocketing prices. But they decided against a petroleum release, for now.<\/p>\n

\u201cWe are not there yet,\u201d France\u2019s finance minister, Roland Lescure, told reporters in Brussels, adding that the group will \u201ccontinue to monitor the situation very closely.\u201d<\/p>\n

\u201cI want to be very clear on the fact that we are ready to take necessary and coordinated steps in order to stabilize markets,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks and energy prices staged a remarkable reversal Monday afternoon after President Donald Trump told CBS News that the war in Iran was \u201cvery complete, pretty much.\u201d Trump repeated that message later in the day at a Florida press conference, where he said the U.S. is “achieving major strides toward completing our military objectives.” “This <\/p>\n","protected":false},"author":0,"featured_media":5689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-5688","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/posts\/5688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/comments?post=5688"}],"version-history":[{"count":0,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/posts\/5688\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/media\/5689"}],"wp:attachment":[{"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/media?parent=5688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/categories?post=5688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marketsfortress.com\/index.php\/wp-json\/wp\/v2\/tags?post=5688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}