On March 10, 2023, Wall Street began the day in a negative territory as crude oil prices saw a sharp decline. The intermediate crude oil from Texas was down by 7.46%, trading below $90 a barrel, coinciding with the intensifying conflict between the United States and Israel against Iran. Early trading showed a downturn in major indices, with the Dow Jones Industrial Average, S&P 500, and Nasdaq all recording slight losses.

The price for Texas Intermediate (WTI) crude fell to $87.70 per barrel during the morning session after briefly surpassing the $100 mark previously due to geopolitical tensions. Reports indicated that futures contracts for WTI scheduled for April delivery decreased by $7.07 from the previous day's close, indicating a volatile market influenced by ongoing international conflicts.

Additionally, U.S. Secretary of War Pete Hegseth stated that the day would see significant military activity with an expectation of intense bombardments in Iran. These developments not only affect oil prices but could also lead to broader economic implications, including potential supply chain disruptions and heightened market volatility as investors respond to the uncertainties surrounding the conflict and its impact on the global oil supply chain.