Oil climbs past $100 as Iran war disrupts global supply

AI Briefing

• – Oil prices surge past $100 as Iran war tightens grip on Strait of Hormuz, sending Brent and WTI to 2022 highs; International Energy Agency announces additional oil reserves.
• – Iran's military downed a US drone in the Strait of Hormuz, further escalating tensions in the region.
• – Global markets react to the increased uncertainty, with investors seeking safe-haven assets and stocks and bonds experiencing significant volatility.