Oil price today: Markets shaken as oil hits $100 — stocks tumble, bonds fall: key signals for investors

Oil price today March 09 news: Oil prices above $115 shake global bond markets. Crude briefly jumped 28% to nearly $120, the biggest surge since 2022. The spike follows the escalating U.S.–Israel–Iran war and fears of disruption in the Strait of Hormuz. Investors now expect higher inflation and fewer interest-rate cuts from the Federal Reserve and European Central Bank. Global bond yields are rising fast. Markets fear a new oil shock and stagflation risk.