Morning Bid: Middle East tumult leaves markets in disarray

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices dip after 5-day winning streak; set for weekly surge on Iran conflict Trump replaces Homeland Security chief Kristi Noem Wall Street ends lower on escalating Iran conflict, report of AI export curbs Trump says he must be involved in selecting Iran’s next leader (South Africa Philippines Nigeria) Morning Bid: Middle East tumult leaves markets in disarray By Economy Published 03/06/2026, 12:35 AM Updated 03/06/2026, 12:36 AM Morning Bid: Middle East tumult leaves markets in disarray 0 CL -1.35% A look at the day ahead in European and global markets from Rae Wee So U.S. and European stock futures pushed higher on Friday while Asian stocks pared early losses, presumably on a minor retreat in oil prices as the U.S. government mulls intervening in the futures market to blunt the surge. How that will work, however, remains a question. Trying to distort a derivative when the physical product is in short supply doesn’t seem particularly wise. That aside, war in the Middle East rages on, upending everything from shipping to air travel and business activity. Ever eager to involve himself in world affairs, U.S. President Donald Trump said he wanted to have a say in deciding Iran’s next leader. It’s been a turbulent week for markets, as investors swung between wishful thinking and sheer panic over the potential length and severity of the conflict. The fallout of the war has been felt most acutely in the energy market, with oil headed for its largest weekly gain since Russia invaded Ukraine in February 2022. Fears of a resurgence in inflation remained at the forefront of the minds of investors, who have quickly moved to price in more hawkish rate expectations across major central banks, sending yields higher. Stocks in Asia, meanwhile, were headed for their largest weekly fall in six years. With so much going on, one could almost forget that U.S. nonfarm payrolls are due later in the day. Expectations are for th...