European stocks decline early, Dow futures fall more than 200 points

SighingCashier · 2026-03-12T13:23:24+00:00

Two oil tankers in Iraqi waters came under attack, raising market concerns about escalating Iran conflict, with European stock markets experiencing widespread declines. The International Energy Agency decided to release 400 million barrels of crude oil to address market disruptions, while the United States will deploy its Strategic Petroleum Reserve to stabilize oil prices. Oil prices rose, with New York crude oil futures climbing to 90.77 dollars, and London Brent crude oil futures trading at 96.33 dollars.

SighingCashier

2026-03-12 13:23:24

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Two oil tankers in Iraqi waters were attacked, raising concerns about escalating conflicts with Iran. European stock markets declined early in the session.

As of 4:25 PM Hong Kong time, the FTSE 100 index in the UK was at 10,294 points, down 58 points or 0.57%; the DAX in Germany was at 23,545 points, down 94 points or 0.4%; the CAC 40 in France was at 7,998 points, down 42 points or 0.53%; and the FTSE MIB in Italy was at 44,705 points, down 67 points or 0.15%.

Dow futures were at 47,195, down 253 points.

The International Energy Agency (IEA) announced that member countries unanimously agreed to release 400 million barrels of crude oil from emergency reserves, the largest scale ever, to address disruptions in the oil market caused by the Middle East war.

U.S. President Trump stated that the U.S. will utilize its strategic petroleum reserve, slightly reducing the reserve to help ease the surge in oil prices driven by the Iran conflict.

The Trump administration announced a new round of trade investigations targeting overcapacity in 16 major trading partners, including China, the European Union, India, South Korea, and Japan, aiming to reimpose tariff pressures.

Oil prices rose, with New York crude futures currently at $90.77 per barrel, up $3.52 or 4.03%; Brent crude futures in London are at $96.33, up $4.35 or 4.73%.

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