Oil prices surge past $100

The breakdown of negotiations in Islamabad has dashed investor hopes for a quick resolution to the energy crisis triggered by the Iran war.

With the U.S. Navy now tasked with interdicting Iranian port traffic, analysts warn that the global economy faces a significant inflationary shock.

Stock market futures plummeted in tandem with the oil spike, reflecting widespread concern over the impact on corporate earnings and consumer spending.

Economists predict that if the blockade persists, energy prices will remain elevated through the upcoming U.S. midterm elections.