Oil prices inch back toward $100 as U.S. stocks retreat from records

Oil prices climbed back toward $100 per barrel as renewed tensions between the U.S. and Iran heightened fears over potential disruptions in oil supply. This surge coincided with U.S. stocks pulling back from their recent records, with the S&P 500, Dow Jones, and Nasdaq all experiencing significant declines. Brent crude oil's price jump of 1.9% to $97.81 per barrel underscores the market's sensitivity to geopolitical risks, reflecting broader concerns about global economic stability and the potential for higher energy costs.