Oil prices surge, stock futures slide
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Global oil prices are in the high $70s as traffic through Strait of Hormuz comes to a halt. Some analysts have warned they could top $100 a barrel if the stoppage is prolonged.
Oil prices leaped on worries that war with Iran could clog the flow of crude, while U.S. stocks swung from sharp losses to tiny gains.
Oil prices are surging after conflict with Iran broke out over the weekend. Mike Wilson says crude would have to spike a lot more to derail the bull case for stocks.
Oil prices surge 13% after Iran strikes shut down Strait of Hormuz traffic. Exxon Mobil and Chevron stocks rise on expectations of higher crude prices.
By Arathy Somasekhar HOUSTON, Feb 25 (Reuters) - Oil prices settled largely unchanged on Wednesday as a much larger-than-expected U.S. crude stock build did not do much to calm jitters about the threat to oil supply from potential military conflict between the U.