Business & Markets
Oil prices jump as Wall Street slips before jobs data
Oil prices rose again Thursday as traders watched developments around the Strait of Hormuz, while Wall Street slipped before key US employment data.
Around 2020 GMT, Brent North Sea crude was up 3.8% at $82.49 per barrel. West Texas Intermediate, the main US contract, rose 2.8% to $77.29.
Again Capital analyst John Kilduff said optimism over the situation around the Strait of Hormuz had faded. “This situation is just far from settled and you can only give hope so much of a chance,” he said.
The rebound in oil prices weighed on US stocks. The Dow Jones Industrial Average closed down 0.9% at 53,885.10 after retreating from a record close. The S&P 500 lost 0.2% and the Nasdaq Composite ended down 0.1%.
US investors were also waiting for Friday's monthly government jobs report.
European markets closed mixed. London's FTSE 100 lost 0.2%, Frankfurt's DAX gained 0.1% and Paris's CAC 40 rose 0.4%.
Chris Beauchamp, chief market analyst at IG, said rising oil prices had reduced some of the optimism seen earlier in the week, although prices remained lower than a week earlier.
Technology-heavy Asian markets fell after disappointing earnings from US companies SanDisk and Western Digital added to concerns about returns from artificial intelligence investment. Seoul's Kospi closed down 4.6%, led by a 10% fall in SK hynix and a drop of more than 6% for Samsung. Tokyo's Nikkei 225 lost 0.9%, with Kioxia down more than 10% and Tokyo Electron more than 5% lower.
Hong Kong, Wellington, Manila and Taipei also fell, while Shanghai, Sydney and Singapore rose.
Diageo rose 7% in London after the drinks maker announced a major cost-cutting plan. Siemens fell 5% in Frankfurt after its profit forecasts fell short of investors' hopes, but later recovered more than half of that decline.
The Strait of Hormuz has been a focus for energy traders after Iran said Wednesday it had agreed a route with Oman for ships transiting the waterway and was finalising arrangements for joint management. Official sources briefing Iranian media said any reopening would depend on the United States fulfilling what Tehran considers a commitment to end a naval blockade of Iranian ports.
Update
Brent crude was up 3.8% at $82.49 per barrel around 2020 GMT, while West Texas Intermediate was up 2.8% at $77.29.
The Dow Jones Industrial Average closed down 0.9% after retreating from a record close, while the Nasdaq ended nearly flat.
Again Capital's John Kilduff said market optimism over the Strait of Hormuz situation had faded because it remained unsettled.
Source note: AFP news report published on 6 August 2026 at 20:34:55 UTC.
Update
Brent crude was up 3.0% at $81.81 per barrel around 1745 GMT.
West Texas Intermediate was up 2.3% at $76.96 per barrel around 1745 GMT.
The Dow was down 0.6% about two hours into the Wall Street session, while the S&P 500 was down 0.2% and the Nasdaq Composite was up 0.1%.
European markets closed mixed, with London down 0.2%, Frankfurt up 0.1% and Paris up 0.4%.
Chris Beauchamp of IG said rising oil prices had limited some of the optimism seen earlier in the week.
Source note: AFP news report published on 6 August 2026 at 16:12:33 UTC.
Update
Wall Street opened cautiously, with the Dow flat and the S&P 500 and Nasdaq up about 0.2% to 0.3% around 1545 GMT.
Paris was up 0.8%, London was flat and Frankfurt was up 0.1% to 0.2% late in European trading.
Brent crude was up 1.7% at $80.77 a barrel and West Texas Intermediate was up 1.1% at $76.07.
The source added that a decline in shares of Elon Musk's SpaceX on Wednesday also weighed on sentiment after earnings raised concern about AI spending.
Source note: AFP news report published on 6 August 2026 at 14:11:35 UTC.
Update
London, Paris and Frankfurt were higher near midday on Thursday.
Diageo shares rose 7% after the company announced a major cost-cutting plan.
Siemens shares fell 5% in Frankfurt after its forecasts disappointed investors.
Oil prices were higher around 1115 GMT, with Brent at $80.33 and WTI at $75.93 per barrel.
An analyst said oil markets were awaiting confirmation from the White House on prospects for a Strait of Hormuz reopening deal.
Source note: AFP news report published on 6 August 2026 at 11:39:53 UTC.
Update
Hong Kong's Hang Seng Index closed down 1.5% at 25,530.28.
London, Paris and Frankfurt were all up in later trading.
West Texas Intermediate was up 0.2% at $75.35 a barrel and Brent was up 0.5% at $79.82 around 0810 GMT.
Source note: AFP news report published on 6 August 2026 at 08:24:29 UTC.
Update
Seoul's Kospi closed down 4.6%, with SK hynix down 10% and Samsung down more than 6%.
Tokyo's Nikkei 225 closed down 0.9%, with Kioxia down more than 10% and Tokyo Electron down 5.5%.
Hong Kong, Wellington, Manila and Taipei fell, while Shanghai, Sydney, Singapore, Mumbai and Bangkok rose.
London and Paris opened higher and Frankfurt was flat.
Oil gains were smaller than in the earlier story, with WTI up 0.3% at $75.47 and Brent up 0.4% at $79.79 around 0715 GMT.
The Dow gained 0.5% to a third straight record close.
Source note: AFP news report published on 6 August 2026 at 07:27:27 UTC.
Uncertainty notes
The status and terms of any potential agreement affecting access to the Strait of Hormuz remain unsettled.
The claim about a US commitment to end a naval blockade of Iranian ports is presented as Tehran's position through official sources briefing Iranian media.
Source
AFP news report published on .