The stock market is reeling as oil prices spike in reaction to the war between the U.S., Israel and Iran in the Middle East.The escalating conflict has caused shipping traffic through the Strait of Hormuz, which sees roughly a fifth of global oil pass through it on a daily basis, grind to a halt, causing oil prices to spike above $100 per barrel for the first time since the Ukraine-Russia war began four years ago.At last check, West Texas Intermediate (WTI) crude futures were up more than 11% at $100.99 per barrel and have surged roughly 50% since the start of the month.
