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Wall Street Pauses as Oil Surges and Tesla Stumbles

  U.S. stocks stalled on Thursday as investors weighed a sharp rise in oil prices against a wave of fresh corporate earnings. Futures tied to the Dow Jones Industrial Average and the S&P 500 hovered near the flat line, while the Nasdaq 100 also showed little movement. Energy markets took center stage after oil futures jumped more than 5% following new U.S. sanctions on Russian producers, pushing Brent crude toward $66 a barrel and West Texas Intermediate closer to $62. The surge added pressure to inflation concerns already weighing on Wall Street. On the corporate front, Tesla shares slipped over 3% in premarket trading after the electric vehicle maker posted mixed third-quarter results, disappointing investors and kicking off the “Magnificent Seven” earnings cycle. IBM stock also dropped about 7% , as stronger-than-expected profits were overshadowed by weaker software revenue. Traders are now awaiting results from American Airlines and T-Mobile , with Intel set to ...
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U.S. Sanctions on Russian Oil Giants Escalate Tensions Over Ukraine

Rosneft's Russian-flagged crude oil tanker Vladimir Monomakh transits the Bosphorus in Istanbul.

The United States has imposed sweeping sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, in a move aimed at tightening economic pressure on Moscow over its ongoing war in Ukraine. The measures, announced by the Treasury Department, block U.S. assets and restrict business dealings with the firms and dozens of their subsidiaries.

Treasury Secretary Scott Bessent said the sanctions were necessary due to President Vladimir Putin’s “refusal to end this senseless war,” stressing that the Kremlin’s energy revenues continue to fuel its military campaign.

The decision marks a sharp policy shift by President Donald Trump, who only recently signaled openness to direct talks with Putin. The sanctions announcement coincided with the cancellation of a planned summit between the two leaders, underscoring Washington’s frustration with stalled peace efforts.

The move rattled global energy markets, with oil prices climbing by as much as 3% amid fears of supply disruptions. India, one of Russia’s key energy buyers, is reportedly weighing a reduction in imports to avoid secondary sanctions exposure.

Moscow reacted angrily, accusing Washington of undermining global energy stability and vowing countermeasures. Russian officials warned that the sanctions would not alter their military objectives in Ukraine but would instead deepen the rift between the two powers.


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