Tesla Boosts US Stock Market Amid Oil Price Drop

Stock prices rose on the New York stock exchange – and the crude oil price fell – after Iran's drone attack on the US military base in Qatar on Monday.

» Published: June 23 2025

Tesla Boosts US Stock Market Amid Oil Price Drop
Photo: Richard Drew/AP/TT

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The broad S&P 500 index rose 1.0 percent, while Nasdaq's technology-heavy composite index and the Dow Jones industrial index both increased 0.9 percent.

During the night towards Monday, the oil price surged after the US attack on Iran's nuclear facilities. But already during the day, the price fell, and after Iran's counterattack in the evening Swedish time, the price drop continued.

Iran stated that the robots fired at the American base corresponded to the number of bombs dropped by the US the day before. It could be interpreted as a signal that Iran wants to see a de-escalation of the conflict – and an explanation for the development of the oil price.

Among the winners on the stock exchange was Tesla. The share price surged 8.2 percent after the electric car manufacturer announced that the company on Sunday initiated a small-scale trial with self-driving taxis in Austin, Texas.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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