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The Next Oil Shock Has No Safety Valve — And the Bill Will Land in Your Pantry
Drone strikes shut Saudi Arabia’s key pipeline, threatening global oil supplies as depleted inventories and maxed-out U.S. refineries limit relief.
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Stock Market News for Sep 16, 2026
Wall Street declined on Tuesday as rising Treasury yields and debt concerns weighed on investor sentiment, particularly affecting discretionary and utilities stocks. The Dow fell 0.6%, Nasdaq dropped 0.8%, and S&P 500 lost 0.5%. Energy stocks bucked the trend, gaining 2.3% as oil prices surged due to Saudi supply disruptions. Markets are pricing in a 94.5% likelihood of a Fed rate hike on Wednesday.
Shares of oil and gas companies are trading higher amid a rise in crude after reports suggesting that Saudi Aramco deferred and cancelled some September crude cargoes meant for European refiners after the closure of its East-West pipeline to the Red Sea. Also, ongoing Saudi strikes on Yemen's Houthi rebels and a tight global diesel market are helping to support crude prices.
Company News for Sep 16, 2026
Several stocks showed significant movement following corporate announcements. Forgent Power Solutions jumped 9.5% after beating earnings estimates, while Skyworks Solutions surged 13.6% on optimism about a Qorvo merger closing by late September or October. Qorvo also gained 9.3%. However, Axon Enterprise slipped 9.8% following plans for a $1 billion debt issuance. Valero Energy rose 3.7% as crude oil prices climbed amid Middle East supply concerns.