CNBC Business News Update Market Open: Stocks Lower, US Crude Oil Up 4%, National Average For US Regular Gas Held Steady Overnight 3/26/26
Mar 26, 2026
Market headlines and geopolitical tensions set the tone for trading. Sharp moves in oil with U.S. crude topping $90 and supply risks tied to the Strait of Hormuz. Shipping delays and seaborne transit times discussed as a factor for soaring Brent. Labor data and record Wall Street bonuses also make headlines amid sports and equal-pay timing references.
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Markets Repricing For A Longer Middle East Conflict
- Markets opened lower as investors priced in prolonged Middle East risk rather than a short shock.
- Jessica Ettinger cites Mark Malik saying repricing is gradual and investors are trying to be proactive about longer conflict scenarios.
Oil Surges On Supply Risk And Shipping Delays
- Oil jumped with U.S. crude up 4% and Brent near $107 as supply concerns rose after U.S.-Iran tensions.
- Kyle Bass warned seaborne delays and disruption could push Brent toward $150 a barrel.
Pump Prices Held Steady Despite Oil Spike
- Despite recent attacks, AAA reported the national average pump price held at $3.98 per gallon overnight.
- Jessica notes 12 states plus DC now average $4 per gallon, with Maryland nearly at that level.