Global oil prices hovered around $100 a barrel Friday after Iran rejected a U.S. cease-fire offer, fueling investor concerns that the widening conflict could throttle energy shipments from the region indefinitely.

nyti.msBrent Crude Oil Prices Top $100 as Conflict With Iran Drags OnStocks in Asia were down following a sell-off in the U.S. markets over soaring oil prices, rising borrowing costs and worries about the technology industry.