Oil hovers around $100, stocks mixed as Iran war rages

Crude shot up in the opening minutes after the US president said at the weekend that forces struck military targets on Kharg Island, a scrubby stretch of land in the Gulf that handles almost all of Iran's oil exports. He also warned attacks could expand to energy infrastructure if the Islamic republic interferes with transit through Hormuz, which has been effectively closed since the US-Israel operations began on February 28. Iran's Fars news agency reported soon after that no oil infrastructure was damaged in strikes.