Dow sheds more than 800 pts as oil surges above $100 per barrel.

U.S. stocks opened sharply lower as oil prices surged above $100 per barrel overnight as the Strait of Hormuz, the main passageway for about a fifth of the world's oil, remains closed. With oil at a standstill, some of the world's top oil producers are running out of room to store oil and are cutting production. Kuwait and Iraq are among them. The UAE is just beginning to reduce, reports said. If oil prices remain above $100 per barrel, inflation could spike, analysts said. Already, the nation’s average ...