Bank of America raised its Brent oil price target to $95 and warned prices could top $150 if Iran war supply disruptions last into spring 2027.

While renewed escalation could push crude prices higher, confirmation of direct U.S.-Iran talks at this week’s U.N. General Assembly could weigh on prices by raising expectations for increased supply.

The S&P 500 Index ($SPX ) (SPY ) is up by +0.09% today, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down by -0.13%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.52%. December E-mini S&P futures (ESZ26 ) are up +0.

The S&P 500 was up 0.6% early on Monday, the Nasdaq Composite climbed 0.9% and the Dow Jones Industrial Average bumped up 0.3% as oil prices fell.

Futures for Brent crude oil, the global benchmark, settled $3.83 higher, or 3.9%, at $103.08 a barrel, the biggest one-day gain since Sept. 10, according to Dow Jones Market Data. That rally also snapped a five-session losing streak,

“A typical household in the Northeast that depends on heating oil might use anywhere between 800 and 1,000 gallons during a heating season. And obviously, with the numbers we're talking about now-that's a $6,000 bill compared to maybe a $3,500 or $4,000 bill in previous years,” Kloza said.

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Asian shares were trading mixed in early Thursday trading, as investors tried to digest the recent swings in oil prices and the U.S. bond market.Japan's benchmark Nikkei 225 gained 1.3% in morning trading to 65,