Crude oil rises over 5%, gold and silver plunge, European stocks and US stock futures all decline.

Due to the escalating tensions in the Middle East, international oil prices surged on March 3. In the evening, prices suddenly spiked sharply. As of 17:35 Beijing time, WTI crude oil futures reached $75 per barrel, up 5.53% for the day, hitting a new high since June 2025; ICE Brent crude approached $82 per barrel, up 5.36% intraday.

Gold and silver prices plummeted sharply, with spot gold falling below $5,270, down over 1% for the day. Spot silver dropped more than 5%, currently at $84.18 per ounce.

In the stock markets, following a collective plunge in major Asia-Pacific indices, European markets opened lower. The European STOXX50, Germany DAX, and Italy MIB indices fell over 3%, while the UK FTSE 100 and France CAC40 declined over 2%.

U.S. stock futures extended their losses before the market open, with Nasdaq futures down about 2%, and Dow Jones and S&P 500 futures down over 1%.

Regarding the Middle East situation, according to Xinhua News Agency, on March 3, the US and Israel launched a military strike against Iran for the fourth consecutive day. The Israeli military targeted multiple locations in Iran and Lebanon, while Iran continued to retaliate against US military targets in the Middle East. On the same day, Israeli forces crossed the temporary border “Blue Line” into Lebanon. Additionally, Iran reported that the US and Israel’s military actions resulted in 787 Iranian deaths, with the initial two days of retaliation causing injuries to 650 US soldiers.

According to CCTV News, the Israel Defense Forces stated on March 3 that the Israeli Air Force carried out overnight strikes on the “leadership complex” in Tehran. The military reported that about 100 fighter jets dropped over 250 bombs on the target.