Oil has pushed past $100 a barrel, and that is bad news for shoppers, companies, and stocks heading into the rest of the year.

• Brent crude broke $100 and West Texas oil is close behind, driving gas prices higher.
• Trump said oil and gas prices will not come down until after the midterm elections.
• Prices jumped after the US action against Iran, and higher costs will squeeze what people can spend.
• Weaker spending should show up in company results later this year, which would pull stocks down.
• Bonds are selling off in the US, Japan, and Europe, while crypto, gold, and silver are all taking hits.

Outlook: Expect more pressure on stocks and metals while oil stays high, with a sharp swing the other way once demand cracks.