Oil prices jump after EU ban on Russian oil but S&P 500, Dow and NASDAQ are downThe S&P 500 was 1.1% lower in early trading. Highlighting the worries about inflation, oil prices jumped above $119 toward their highest levels since the early days of Russia’s war in Ukraine. Crude oil prices are up 60% this year due to fears about disruptions in supplies from Russia, the second-biggest global exporter. HOW LONG WILL GAS PRICES RISE? For the first time since the dot-com bubble was deflating two decades ago, the S&P 500 tumbled to seven straight losing weeks through mid-May.