GoKawiil
Tech News
President Trump said Wednesday that oil prices, driven up by the ongoing Iran conflict, will likely stay elevated until after U.S. midterm elections. His remarks came as Brent crude topped $100 a barrel for the first time since July, with prices jumping over 3% amid escalating U.S.-Iran military exchanges.
Ryanair CEO Michael O'Leary told reporters that fares could rise substantially in the December and March quarters if oil prices remain elevated, even as second-quarter pricing is expected to dip slightly. His comments came as Brent crude held above $100 a barrel and jet fuel costs climbed roughly 90% year-over-year.
Jim Cramer said on 'Mad Money' that despite rising oil prices hitting retail, staples and discretionary stocks like Comcast, Procter & Gamble and Stanley Black & Decker, he remains optimistic about the broader market. All three major indexes fell for a third straight session, but Cramer pointed to strong AI-related semiconductor stocks, resilient bank shares, and the potential for oil prices to ease as reasons for his continued confidence.