Day: March 10, 2026

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Oil Erases More of Its Recent Gains; Dow Inches Up — Live Updates

Stock Market Today: Oil Erases More of Its Recent Gains; Dow Inches Up — Live Updates

It has been another wild day of trading in oil markets.

Futures for Brent crude, the global benchmark, dropped 11% to $87.80 a barrel, deepening a decline that began after they briefly surged to their highest intraday level since 2022.

Behind the slide: hopes the world’s biggest economies will release strategic oil reserves and comments from President Trump signaling a limit to the duration of hostilities.

Oil's decline helped boost stocks around the world on Tuesday, though U.S. indexes trimmed gains and crude pared declines after a social media post from Energy Secretary Chris Wright saying the U.S. Navy had successfully escorted a tanker through the Strait of Hormuz was deleted. The Navy isn’t now escorting commercial ships through the strait, according to the White House and a spokesman for U.S. Central Command.