Oil prices soar past $100 while Dow futures sink 900 points as Iran war spirals into worst-case fears and U.S. eyes special forces mission

Just over a week into the U.S.-Israeli war on Iran, Wall Street has started to price in a prolonged conflict, as hopes for a swift endgame have been crushed.

With no signs of de-escalation, both sides are instead upping the ante, expanding targets to critical infrastructure and risking greater retaliation in the process.

U.S. oil futures shot up 17.2% to $106.57 a barrel, and Brent crude gained 15.2% to $106.81. Over the weekend, President Donald Trump downplayed the possibility of releasing oil from the Strategic Petroleum Reserve to ease price pressure.

“Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace,” he posted on Truth Social on Sunday.

Prices at the gas pump are likely to top $4 a gallon now that oil has surged past $100 a barrel for the first time since 2022. Patrick De Haan, head of petroleum analysis at GasBuddy, Read Entire Article