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Oil Surges Past $100; Stagflation Fears Rise

3/13/2026

43 3 Full Breakdown

Summary

Story summary

Oil prices have risen above $100 per barrel amid the Middle East conflict.
The International Energy Agency reports significant supply disruptions.
Deutsche Bank's Jim Reid warns the price surge could trigger stagflation.
The Dow Jones Industrial Average fell over 400 points.
UK and G7 nations are considering releasing strategic oil reserves to stabilize supplies.

History

Historical Context

The 1973 Oil Crisis began when OPEC imposed an embargo in response to Western support for Israel during the Yom Kippur War, causing oil prices to quadruple from $3 to nearly $12 per barrel. This crisis led to severe supply shortages in the U.S. and the formation of the International Energy Agency, highlighting the vulnerabilities of energy dependency that resonate with today's rising oil prices above $100 per barrel.

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Story summary

Oil prices have risen above $100 per barrel amid the Middle East conflict.
The International Energy Agency reports significant supply disruptions.
Deutsche Bank's Jim Reid warns the price surge could trigger stagflation.
The Dow Jones Industrial Average fell over 400 points.
UK and G7 nations are considering releasing strategic oil reserves to stabilize supplies.

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