Every weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. The Dow plunged more than 500 points on Thursday as oil prices continued to surge after Iran’s new Supreme Leader, Mojtaba Khamenei, said the Strait of Hormuz would stay…
Uber signage on a vehicle at San Francisco International Airport (SFO) in San Francisco, California, US, on Monday, Feb. 2, 2026. David Paul Morris | Bloomberg | Getty Images For more than a decade, Alvaro Bolainez has ferried passengers around the Los Angeles area in his SUV as a rideshare driver. He’s never seen anything…
Travelers wait in line at a Transportation Security Administration (TSA) checkpoint at William P. Hobby Airport in Houston, Texas, US, on Monday, March 9, 2026. Mark Felix | Bloomberg | Getty Images The surge in fuel prices since the U.S. and Israel attacked Iran nearly two weeks ago is already driving up airfare. Consumers’ appetite…
Son of Iran’s Supreme Leader Ayatollah Ali Khamenei, Mojtaba Khamenei, attends a demonstration to mark Jerusalem day in Tehran. Morteza Nikoubazl | Nurphoto | Getty Images Iran’s new Supreme Leader Mojtaba Khamenei has said the closure of the Strait of Hormuz maritime passage should be continued as a “tool to pressure the enemy,” in his…
The U.S. Navy is not ready to escort oil tankers through the Strait of Hormuz, Energy Secretary Chris Wright told CNBC in an interview Thursday. “It’ll happen relatively soon but it can’t happen now,” Wright said. “We’re simply not ready. All of our military assets right now are focused on destroying Iran’s offensive capabilities and…
An oil pumpjack operates in the Inglewood Oil Field on March 10, 2026 near Los Angeles, California. Mario Tama | Getty Images LONDON — European stocks are expected to open lower on Thursday as investors monitor the Iran war and global oil prices. The U.K.’s FTSE index is seen opening 0.2% lower, Germany’s DAX down…
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. Lucy Nicholson | Reuters Oil prices surged more than 8% with Brent crude hitting $100 per barrel Thursday, as traders remain unconvinced that release of government stockpiles could offset the massive supply shock triggered by the war in the Middle East. The…
The U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve to help lower energy costs during the Iran war, Energy Secretary Chris Wright said Wednesday evening. The U.S. will start releasing barrels next week but it will take about 120 days to deliver them all, Wright said. President Donald Trump said…
U.S. President Donald Trump speaks to the media next to White House press secretary Karoline Leavitt, at the White House in Washington, D.C., U.S., March 11, 2026. Brian Snyder | Reuters President Donald Trump on Wednesday said he’s not worried about Iran executing a terror attack within the United States in retaliation for the ongoing…
The International Energy Agency on Wednesday agreed to release 400 million barrels of oil to address the supply disruption triggered by the Iran war, the largest such action in the organization’s history. The IEA did not set out a timeline for when the stocks would hit the market. It said that the reserves would be…
