Stocks Mixed, Oil Holds Above $100 After Temporary Lift on Russian Energy Sanctions

US stocks see volatility as investors brace for prolonged conflict in Iran and impact on global energy markets.

Mar. 13, 2026 at 4:06pm

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US stocks were mixed on Friday, with the Dow Jones Industrial Average rising while the S&P 500 and Nasdaq dipped. Oil prices also fluctuated, briefly dipping below $100 per barrel before rebounding after the White House announced a temporary lift on Russian energy sanctions. Investors are bracing for a potentially prolonged conflict in Iran and the impact on global energy supplies, with concerns that oil prices could spike as high as $200 per barrel.

Why it matters

The ongoing tensions in the Middle East and the impact on global energy markets are causing significant volatility in US financial markets. Investors are closely watching developments, as a prolonged conflict in Iran could lead to further disruptions in oil supply and drive prices even higher, exacerbating inflation concerns.

The details

The White House announced a temporary, 'narrowly tailored' lift on Russian energy sanctions that will last until April 11. This is aimed at easing price pressures from Iran's blockade of the Strait of Hormuz, a vital global oil chokepoint. However, analysts warn that even if the conflict ends soon, it will take time to fix damaged infrastructure and restart oil production overseas. Iran has threatened that oil prices could spike as high as $200 per barrel, though the US Energy Secretary has called that scenario 'unlikely'.

  • The temporary lift on Russian energy sanctions will last until April 11, 2026.
  • On Thursday, Iran's new supreme leader vowed to maintain the blockade in the Strait of Hormuz.

The players

Dow Jones Industrial Average

A stock market index that tracks 30 large US publicly traded companies.

S&P 500

A stock market index that tracks 500 large US publicly traded companies.

Nasdaq

A stock market index that tracks over 3,000 stocks, primarily in the technology sector.

Brent crude oil

A major global benchmark for crude oil prices.

West Texas Intermediate (WTI) crude

A benchmark for US crude oil prices.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

The ongoing tensions in the Middle East and the impact on global energy markets are causing significant volatility in US financial markets. Investors are closely watching developments, as a prolonged conflict in Iran could lead to further disruptions in oil supply and drive prices even higher, exacerbating inflation concerns.