Oil prices have soared as the war against Iran continues on its 10th day, hitting $100 per barrel for the first time since July 2022. Kristin Myers, the ETF editor-in-chief for Asset TV, breaks down the economic impact.

G7 nations have said they are ready to take "necessary measures" to support the global supply of energy after the US-Israel war with Iran sent oil prices surging.

The Strait of Hormuz, through which roughly one-fifth of the world’s oil and liquefied natural gas typically passes, is virtually shut.