CNBC Daily Open: Gulf strikes jolt oil toward triple digits
The U.S. and Iran trade attacks on vessels and tankers in the Strait of Hormuz, sending oil higher and stocks lower.
TL;DR
- Iran's Revolutionary Guard claimed strikes on U.S. vessels and oil tankers in response to U.S. attacks.
- Crude oil prices are rising, with Brent futures nearing $100 a barrel and potential to exceed $120.
- Inflation is a growing concern globally, with higher commodity costs affecting Chinese wholesale prices and U.K. inflation risks on the upside.
- Stock markets have experienced a downturn, with the Dow closing lower and Asian equities mixed.
- LIV Golf has filed for Chapter 11 bankruptcy protection due to its main backer potentially pulling funding.
- 'South Park' announced it is changing its name to 'South America' for its upcoming season.