Oil Prices Top 100 Dollars as Global Markets Retreat

Global stocks fell on Thursday as Brent crude climbed above 103 dollars per barrel. Investors weighed mixed tech earnings from Tesla and IBM against rising energy costs.

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Global markets are grappling with a significant resurgence in energy costs as geopolitical tensions in the Middle East refuse to subside. While equity markets had previously managed to overlook the friction between the United States and Iran, the persistence of naval blockades and attacks in the Strait of Hormuz has pushed crude prices back to critical levels.

Commercial vessels navigate the waters near the Strait of Hormuz during a period of heightened regional tension, March 2026. REUTERS/Stringer/File Photo
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