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U.S. stocks slip as Brent crude hits $88.91

8/13/2026

25 4 Full Breakdown

Summary

Story summary

On August 11, 2026, U.S. stocks slipped from record highs as Brent crude rose to $88.91, up 1.4%, amid Strait of Hormuz uncertainty.
The major indices each fell, with the S&P 500 down 0.3%, the Dow down 184 points and the Nasdaq down 0.6%.
Regular gasoline averaged $4.01 per gallon, according to AAA.
ExxonMobil, Chevron, BP and Shell rose between 1.2% and 3.1% as oil prices climbed.

History

Historical Context

In October 1973 OAPEC, led by Saudi King Faisal, imposed an oil embargo on the United States and other Israel supporters. The embargo pushed crude prices from $3 to nearly $12 per barrel—a 300 % rise—and sparked a stock-market crash that marked the first oil shock, ending the post-World-War II boom and still informs today’s Brent-price volatility.

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Story summary

On August 11, 2026, U.S. stocks slipped from record highs as Brent crude rose to $88.91, up 1.4%, amid Strait of Hormuz uncertainty.
The major indices each fell, with the S&P 500 down 0.3%, the Dow down 184 points and the Nasdaq down 0.6%.
Regular gasoline averaged $4.01 per gallon, according to AAA.
ExxonMobil, Chevron, BP and Shell rose between 1.2% and 3.1% as oil prices climbed.

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