U.S. stock indexes, including the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite, defied geopolitical tensions by climbing to new record highs on Monday, May 11. This market resilience occurred as Brent crude oil prices surged past $104 per barrel following President Donald Trump’s rejection of Iran’s latest ceasefire proposal, thereby prolonging the U.S.-Iran conflict and intensifying global energy market uncertainty.
Context of Conflict and Markets
The ongoing U.S.-Iran conflict has been a significant driver of volatility in global oil markets for months. Prior to the outbreak of hostilities, Brent crude oil traded at approximately $70 per barrel. The protracted engagement has since seen prices steadily escalate, reflecting concerns over supply disruptions in the critical Middle East region. President Trump’s recent declaration that the U.S.-Iran ceasefire was on
