WTI Tops $94 as Brent Hits $103 on Renewed Iran Tensions

Crude oil prices surged further on renewed Middle East tensions including Iran-related risks and shipping attacks, pushing WTI above $94/barrel and Brent over $103/barrel, with both benchmarks up more than 3%. Brent closed above $100 for the first time in over two weeks, prompting a risk re-pricing that weighed on U.S. futures, Asian, and European indexes despite earlier S&P 500 and Nasdaq records. Mixed earnings saw Tesla pare gains after hiking 2026 capex above $25 billion, IBM miss on revenue, Boeing beat, and strong AI demand boosting SK Hynix profits five-fold.