Oil prices soar over $85 as fighting flares in Middle East

West Texas Intermediate crude oil surged above $85 a barrel July 13 following escalated military conflict in the Middle East, lifting energy stocks while broader equity markets declined. The price spike reflected investor concerns over potential supply disruptions in a region accounting for roughly one-third of global petroleum output. Analysts attributed the divergent market response to competing factors: energy sector gains from higher prices offsetting losses in technology stocks hit by unrelated selloff pressures.