Charting the Global Economy: Oil Hits $100 in Second Week of Iran War

The US said it had stepped up strikes on Iran to unprecedented levels as the war that’s engulfed the Middle East hit the two-week mark and continued to upend energy flows and global markets.

Brent crude traded above $100 a barrel Friday following one of the most volatile weeks ever for the oil market, with investors bracing for more upheaval as Iran pledged to keep the vital Strait of Hormuz effectively shut.