CNBC Business News Update Market Midday: Stocks Lower, US Crude Tops 90 Dollars A Barrel, US Lost Jobs In February 3/6/26
Mar 6, 2026
Sarah Eisen, CNBC correspondent who breaks down the February jobs report, and Patrick DeHaan or David Rosenberg, commentators on gasoline and energy risks. They cover soaring crude past $90, fuel pain at the pump, geopolitical risks around the Strait of Hormuz, slipping retail sales, and an unexpected February jobs decline. Short, timely market and consumer concerns unpacked in rapid-fire updates.
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Geopolitics Pushed Oil Over $90 And Stocks Down
- The Middle East war shock pushed oil sharply higher and stocks sharply lower, creating market volatility tied to geopolitical risk.
- Jessica Ettinger notes the Dow fell 613 points and U.S. crude topped $90 a barrel amid shutdown fears from Qatar.
Supply Risk From Qatar Could Extend Inflationary Pressure
- Qatar warned the conflict could halt its oil production, risking extended supply disruption and higher inflation.
- AAA data show pump prices jumped about $0.32 per gallon this week, adding roughly $6 to fill an average SUV tank.
Anticipate Political Pressure On Energy And Shipping Security
- Expect political pressure to focus on energy and Strait of Hormuz security as gasoline rises and voters feel pain.
- Steve Weiss says high pump prices will push the president to act and increase attention on transit confidence.