The VIX Rips 10% Higher As Oil Punches Through $100 A Barrel and Panic Enters The Arena

The catalyst is straightforward: oil. Brent crude touched $119 early Thursday after reports that Iran's South Pars gas field in the Persian Gulf was struck, and Kuwait's petroleum corporation confirmed fires at two refineries following drone attacks. Brent has since pulled back to around $108, but the damage to investor confidence is done. WTI crude, the U.S. benchmark, had already surged from $55.44 in mid-December 2025 to a recent high near $98.48, a move that placed it at the 98.4th percentile of its tra ...