Oil Prices Surge to $100 Per Barrel as Iran War Continues

Stocks plummet worldwide amid ongoing conflict and supply chain disruptions

Mar. 12, 2026 at 2:08pm

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Concerns over the prolonged war with Iran have driven oil prices back up to $100 per barrel, sending stocks plunging worldwide. The S&P 500 fell 1.1% on Thursday, returning to volatile trading after a brief period of relative calm.

Why it matters

The spike in oil prices and stock market declines reflect the significant economic impact of the ongoing conflict with Iran. The war has disrupted global energy supplies and shaken investor confidence, with no clear end in sight to the geopolitical turmoil.

The details

Oil prices have surged back to $100 per barrel as the war with Iran continues, with no resolution in sight. This has sent stocks tumbling, with the S&P 500 falling 1.1% and the Dow Jones Industrial Average down 588 points, or 1.2%, as of 10 a.m. Eastern time. The tech-heavy Nasdaq composite also declined 1.4%.

  • On Thursday, March 12, 2026, oil prices reached $100 per barrel.

The players

S&P 500

A stock market index that tracks the performance of 500 large companies listed on stock exchanges in the United States.

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What’s next

Analysts are closely monitoring the situation and expect continued volatility in the markets until there is a resolution to the conflict with Iran.

The takeaway

The ongoing war with Iran has had a significant impact on the global economy, with rising oil prices and plunging stock markets. This highlights the interconnectedness of international affairs and the need for policymakers to find a peaceful solution to the conflict.