DAL, UAL, CCL Tank, While LMT, RTX, OXY Gain Overnight As Oil Nears $120: Trump Dismisses Market Panic As 'Small Price' For Peace

Global markets are reeling Monday morning as a violent spike in energy prices sends shockwaves through the U.S. travel and industrial sectors.

US Futures, Asian Markets Slump Amid Rising Crude Prices

Following a chaotic weekend in the Persian Gulf, Dow Jones futures plummeted over 1,000 points in overnight trading, while crude oil benchmarks aggressively tested their 52-week highs near the $120 mark.

The risk-off contagion is hitting U.S. equities, creating a stark divide between war-exposed transportation stocks and defense-heavy beneficiaries.

The decline follows a historic surge in energy costs. Brent Crude spiked over 22.99% to hit $114.00, while WTI surged 1.20% to $110.17, with both benchmarks now aggressively testing their 52-week highs of $119.46 and $119.46, respectively.

The Overnight Movers: Winners and Losers

Investor anxiety is focused squarely on fuel-sensitive industries. $DAL

Trump: A ‘Small Price’ For Peace

Despite the market carnage, President Donald Trump took to Truth Social to dismiss the economic anxiety, framing the record-high fuel costs as a necessary byproduct of his administration’s offensive against Tehran.

The President also aimed at the United Kingdom, mocking Prime Minister Keir Starmer's consideration of sending aircraft carriers to the region.

Trump suggested the gesture was too little, too late, claiming the U.S. had “already won” the conflict and that the U.S. “doesn’t need people that join Wars” after the fact.

Conflict Escalates As ‘Lite Weight’ Takes Power

The market panic coincides with a hardline transition in Tehran. Following the death of Ayatollah Ali Khamenei, Iranian state media confirmed his son, Mojtaba Khamenei, as the new Supreme Leader—a move President Trump previously dismissed by calling the younger Khamenei a “lite weight,” as per a CNBC report.

The appointment has triggered a wave of retaliatory strikes across the Gulf. Significant damage has been reported at:

• Dubai International Airport: Passengers ushered into tunnels amid drone threats.
• Kuwait: Massive fires reported at fuel depots.
• Bahrain: A water desalination plant struck by Iranian drones.

With the Strait of Hormuz effectively impassable, carrying 20% of the world’s oil, the prices could be affected if the regional infrastructure continues to crumble.

On Friday, the SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, closed lower. The SPY was down 1.31% at $672.38, while the QQQ declined 1.50% to $599.75.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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