U.S. crude oil hit $100 a barrel as the Strait of Hormuz remained shut due to an ongoing stalemate involving Iran, pushing energy markets sharply higher and dragging the S&P 500 lower. The Strait of Hormuz is the world's most critical oil chokepoint, carrying roughly one-fifth of global oil supply on any given day. A prolonged closure directly tightens global supply and forces buyers to seek costlier alternative routes or sources. The S&P 500 fell as investors priced in higher energy costs across manufacturing, transport, and consumer goods. Equity markets tend to sell off when oil spikes sharply because input costs rise and consumer spending power shrinks. The key question now is how long the stalemate holds. Any diplomatic breakthrough could ease prices quickly, but an extended closure raises the risk of broader inflation pressure and central bank tightening responses. Energy stocks may benefit while consumer and industrial sectors face the most direct margin pressure.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
