Oil Jumps to $100 a Barrel, Stocks Sink as Hormuz Crisis Deepens

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 12 March 2026

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Mar. 12. The economic risks of the war in Iran are getting real on Wall Street. Brent crude jumped above $100 a barrel and U.S. stocks sold off. Plus, the tie-up in the Strait of Hormuz is rippling across the global economy, and that includes sending the price of fertilizer skyrocketing. We hear from Journal agriculture reporter Patrick Thomas about what this means for U.S. farmers going into the spring planting season. And employees of medical-technology company Stryker woke up yesterday to find that their devices had been disabled due to a cyberattack. James Rundle, who covers cybersecurity for WSJ Pro, discusses how the war in the Middle East is playing out in the world of hackers. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I think the potential of Agenic is to rethink how work gets done overall.
0:05.0	It challenges all sorts of traditional orthodoxies around how organizations execute the work at hand.
0:11.3	That's Jason Gersatus, CEO of Deloitte U.S., talking about the transformational potential of A.Gentic AI.
0:17.9	Join him later to learn why agents are a game changer for businesses across industries.
0:26.5	Iran's new Supreme leader issues his first official message, but continues to stay out of public view.
0:32.9	Plus, the war in the Middle East isn't just disrupting the oil market. It's also driving up prices for
0:37.8	things like flights and fertilizer. And hackers hit an American medical devices company called
0:43.6	Stryker, saying that they were retaliating on behalf of Iran. The attack on strikeer stands out
0:48.7	because it's one of the first visible examples of a successful disruption outside of the
0:53.2	immediate region. And that suggests that the conflict's cyber dimension may be starting to spread more globally.
0:58.4	It's Thursday, March 12th.
1:00.2	I'm Alex O'Sullough for the Wall Street Journal.
1:02.7	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:12.1	Mosheba Hamini made his first public remarks since succeeding his father to become Iran's
1:17.2	supreme leader. In a written statement that appeared in Iranian state media today,
1:21.9	Hamini said Iran would open new fronts in the war, promised to attack U.S. bases in the Middle
1:27.1	East, and to keep the Strait of Hormuz closed.
1:30.6	Hamani hasn't been seen in public since the start of the war, which has fueled speculation about his physical well-being.
1:36.8	In the Gulf, the U.S. said it has ramped up its attacks on Iranian mine-laying boats as well as mine facilities.
1:42.5	It's trying to preempt efforts by Iran to put
1:44.8	mines in the Strait of Hormuz, which could disrupt the global economy. Energy Secretary Chris Wright
1:50.4	said the U.S. Navy will begin military escorts in the Strait of Hormuz later. Here he is speaking on
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