Episode Details

Oil prices soar past $100 a barrel for the first time in over 3.5 years, driven by the Middle East conflict. Brent crude hits $101.19, a 9.2% jump from Friday. U.S. crude surges 36% and Brent rises 28% as output is cut due to full storage tanks and attacks on oil facilities. Financial markets worry about sustained high energy costs, which could reignite inflation and slow consumer spending. Israel targets Irans oil depots, adding to the chaos. Last time Brent was over $100 was July 29, 2022.

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