Crude oil futures hit $100 a barrel amid US-Iran tanker clashes

Crude oil futures reached $100 a barrel as news broke of US and Iranian forces attacking each other's tankers and vessels in the Strait of Hormuz, extending a price rally that has been building since late August.

Why this matters. A $100 print marks a fresh escalation threshold for energy markets, directly raising fuel costs and inflation pressure for consumers and governments worldwide as long as the tanker war continues.