Crude prices have officially surged past the $100-a-barrel threshold for the first time since the 2022 energy crisis. This marks a massive 50% rally following the joint US-Israeli strikes on February 28, as the market braces for a prolonged supply shock.

Asian markets faced a brutal sell-off on Monday morning, with the Nikkei 225 and KOSPI plunging over 7% and 8% respectively as investors reacted to soaring energy prices. This downward spiral extended to the West, where US stock futures dropped nearly 2% in pre-market trading, signaling a global retreat from risk assets.