OIH

Oil prices climbed above $100 a barrel amid worries of U.S. strikes on Iran, pushing the Energy ETF XLE to a new record. Meanwhile staples, telecoms and the Dow slipped at midday Friday.

The U.S. Strategic Petroleum Reserve is at a 1982 low of 282.7 million barrels. Bottlenecks and cautious Permian drillers are slowing a quick refill.

Oil prices have risen above $110 as Middle East tensions grow and U.S. inventories fall. This supports oil ETFs like BNO, XLE and OIH.

SpaceX’s strong third‑quarter performance and Super Micro’s higher guidance revived the AI trade, lifting the Nasdaq 100. Netflix and AT&T fell on their results.

The Nasdaq 100 fell 1.5% at midday Friday as memory chips and AI-debt names sold off, while Fed Chair Warsh declined to rule out an October hike after hot CPI and PPI. WTI held near $96, the 10-year yield hovered around 5.1%, gold bounced toward $4,200 and bitcoin traded near $81,300.

The Energy sector’s rally this year hit a milestone, closing up more than 50% year‑to‑date for the first time in 2026.