business ⛽ Stocks dip ahead of US jobs data; oil jumps on Iran fears
Major stock indexes eased on Thursday as investors awaited the key U.S. jobs report scheduled for Friday. Oil prices surged by 3.83% to $82.49 a barrel due to concerns over Strait of Hormuz access. An Iranian parliamentary committee is reviewing a bill that could restrict U.S. and Israeli vessels from the strait. Higher oil costs pose risks to consumers and the economy, with traders expecting interest rate hikes. The U.S. Treasury yields also increased amid the escalating geopolitical tensions.