Oil surges above $100 on Iran war escalation; stocks hit all-time highs despite conflict

Brent crude broke $100/barrel after 12 nights of US strikes on Iran and a tanker attack off Saudi Arabia. The S&P 500 reached new all-time highs even as oil prices surged over 50% since the Feb 28 conflict start. Traders initially ignored war risks but began reassessing as crude stayed elevated, threatening inflation and recession odds.