Get Quartz in your inbox

Free daily briefing on global business news.

The Dow falls more than 500 points as oil hits highest level in months

West Texas Intermediate futures topped $100 a barrel on fears of renewed U.S.-Iran conflict as American Express fell

Spencer Platt / Getty Images

The Dow Jones Industrial Average was down 543 points, or 1%, in Friday trading as oil prices climbed on worries that hostilities between the U.S. and Iran might reignite. The S&P 500 slipped 0.3%.

West Texas Intermediate futures rose more than 3% to $102.98 a barrel. Brent crude gained 3.5% to $117.10 and is headed for its strongest finish since April, according to The Wall Street Journal.

According to CNBC, Washington........

© Quartz