Oil prices soared Thursday, briefly trading above $100, and stock markets extended losses as Iran's attempts to hit supplies in the Middle East offset the release of crude reserves by

Oil prices jumped early Thursday despite the record release of emergency reserves by the U.S. and other countries.

U.S. stocks are falling after worries about the war with Iran, with no clear end in sight, briefly sent the price of oil back above $100 per barrel. The S&P

The price of a barrel of Brent crude oil, the international standard, has topped $100 a barrel again, jolting markets just days after it spiked near $120

President Donald Trump and Iran’s new supreme leader both struck defiant tones on the 13th day of the war, offering little relief to energy markets despite fresh US efforts to curb oil prices.

The price of oil jumped more than 7%, as the war on Iran was "creating the largest supply disruption in the history of the global oil market."

Markets on Wall Street retreated and oil prices jumped another 5% again early Thursday as the war in Iran approached its second week with no indication that the United States and Israel were ready to scale back their attacks.

Supreme Leader Mojtaba Khamenei promised "vengeance for the blood of your martyrs" in his first message to Iranians.