Oil Tops $100 Amid Mideast War, Stocks Slide Globally on Inflation Fears

• Brent crude closed at $103.14, up 42% since the Middle East conflict began, pushing oil prices above $100.
• Global stock markets slid due to investor concerns over prolonged war, crude supply disruptions, and rising inflation.
• Iran's threats to choke the Strait of Hormuz, a vital energy transport artery, fuel fears of a burgeoning energy crisis.
• Central banks, including seven meeting next week, are now expected to freeze or hike interest rates to combat inflation.
• US Q4 economic growth revised down to 0.7%; Fed's preferred inflation gauge at 2.8%, still above 2% target.