Is a Missile Strike the Reason Oil Jumped 3% Today?

Midday Monday, geopolitical shock dominates U.S. equity markets after the UAE intercepted Iranian missiles for the first time since an April 8 ceasefire. WTI crude surged 3% past $105 per barrel, Brent jumped 5% above $114, and the 10-year Treasury yield spiked 8.6 basis points to 4.464%. The S&P 500 fell 0.3% to around 7,208, the Dow dropped 413 points, and the Russell 2000 slid nearly 1%, while investors await Palantir earnings after the close.