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Oil reaches $110 as Iran escalates Strait of Hormuz attacks

By ChordNews · First written (updated )

Tech stocks erase $1 trillion of wealth as oil surges to $110 for the first time since May
Image: nbcnews.com
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Summary

Oil prices surged Friday, with Brent touching $110 as Iran escalated attacks in the Strait of Hormuz, according to CNBC. CNBC also reports Ukraine vowed to hit Russian refineries, while NBC News says tech stocks shed more than $1 trillion in value as oil reached its highest level in five months.

Later: Oil prices swing as Middle East turmoil weighs against weak economic data · Oil prices jump to five-month high as attacks in Saudi Arabia and Strait of Hormuz threaten global supply · Stocks Post Steepest Decline in Months as A.I. Worries Weigh on Markets

Timeline

  1. NBC News

    Source ↗

    NBC News reports tech stocks shed more than $1 trillion in value Friday as oil surged to $110 for the first time since May.

  2. CNBC

    Source ↗

    CNBC reports Brent touched $110 as Iran escalated attacks in the Strait of Hormuz and Ukraine vowed to hit Russian refineries.

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