Dow Jones set to lead recovery as oil dips below $100

• Brent crude dropped below $99 per barrel and WTI futures fell 2.2% to $93.64 after briefly trading above $100 for the first time since August 2022
• Futures indicated gains of 0.3% for the Dow Jones with the S&P 500 and Nasdaq tracking close behind as markets traded on headlines from the two-week-old Middle East conflict
• European markets reversed morning losses with London's FTSE 100 up 0.2% while Asian markets closed lower, with Seoul's Kospi down 1.7% and Tokyo's Nikkei falling 1.2%

Market Summary: Dow Jones Set to Lead Recovery as Oil Retreats

Key Market Movements:

U.S. futures indicate a positive opening on March 13, 2026, following a volatile trading week. Dow Jones futures point to a 0.3% gain, with S&P 500 and Nasdaq futures showing similar momentum.

Oil Market Development:

Benchmark Brent crude retreated below $99 per barrel after briefly exceeding $100 for the first time since August 2022. The approximately 2% decline followed India's announcement of an oil tanker exiting the Strait of Hormuz. WTI futures dropped 2.2% to $93.64 per barrel. According to Saxo Markets' Neil Wilson, markets remain highly sensitive to headlines as the Middle East conflict enters its second week, with traders eager to respond to any positive developments.

Global Market Performance:

• Europe: London's FTSE 100 reversed morning losses to gain 0.2% by midday; Frankfurt's DAX turned positive; Paris' CAC 40 traded flat
• Asia: Closed lower across the board
• Seoul's Kospi: -1.7%
• Tokyo's Nikkei: -1.2%
• Hong Kong's Hang Seng: -1%
• Shanghai's SSE Composite: -0.8%

Market Implications:

The oil price pullback provides relief to equity markets concerned about inflationary pressures from energy costs. The recovery in U.S. and European markets suggests investor optimism, though Asian weakness indicates regional concerns persist. Markets continue exhibiting headline-driven volatility amid ongoing geopolitical tensions, with energy prices remaining a critical factor for near-term direction.