Oil prices pare gains, U.S. stock futures stem steep losses after Iran missile attack

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Oil prices pare gains, U.S. stock futures stem steep losses after Iran missile attack
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It's been a roller-coaster ride for stock and oil futures tonight.

Crude oil prices surged and U.S. stock market futures tumbled late Tuesday after Iran fired multiple missiles at air bases in Iraq housing U.S. troops, raising fears of a wider Middle East conflict. But electronic markets pared those losses as overnight trading continued, likely lessening the blow when the trading day starts Wednesday.

The attacks — and the potential of U.S. retaliation — raise the possibility of oil supply disruptions, as well as the possibility of violence spreading around the already tumultuous region. Dow Jones Industrial Average futures YM00, -0.30% fell more than 400 points immediately after the attack, but were able to pull out of their dive, and were most recently down only about 120 points. S&P 500 ES00, -0.26% and Nasdaq Composite futures NQ00, -0.38% tumbled as well, and similarly reduced their losses.

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