# Oil Soars Above $111 as Stocks Plummet

> Oil prices jump above $111 after Iran strike threats and AI spending fears.
- Title: Oil Soars Above $111 as Stocks Plummet · New York Post
- Summary: Oil prices jump above $111 after Iran strike threats and AI spending fears. Oil prices rose to $111.32 a barrel as stocks fell on Iran strike reports and AI…
- Keywords: oil prices, iran, stocks, ai spending, dow jones, s&p 500, nasdaq, brent crude, west texas intermediate, meta, tesla, nvidia
- Source: New York Post — https://nypost.com/2026/10/22/business/oil-soars-above-111-as-stocks-plummet-on-iran-strike-news-ai-spending-concerns
- Published: 2026-10-22T15:54:08+00:00
- Read time: 1 min
- Topics: oil prices, iran, stocks, ai spending, dow jones, s&p 500, nasdaq, brent crude, west texas intermediate, meta, tesla, nvidia
## Oil Prices Surge
Brent crude oil futures rose 2.3% to $111.32 a barrel.
## Stocks Drop
Dow Jones Industrial Average sank 182 points, or 0.3%, by 11:15 a.m. ET.
## Iran Strike Threats
US and Israel plan new strikes on Iran after midterm elections.
## AI Spending Concerns
Meta shares slumped 6.1% despite strong earnings due to AI investment plans.
## Tech Stocks Decline
Tesla and Nvidia dropped after AI spending concerns.
## Capital Shortage
Nvidia CEO says neocloud demand is high but capital is scarce.
## Key takeaway

Oil prices rose to $111.32 a barrel as stocks fell on Iran strike reports and AI investment concerns.