Oil Prices Surge Above $100 Barrel, Asian Markets Plummet

Asian markets fell on Thursday after a decline on Wall Street as oil prices traded above $100 a barrel for the first time in recent memory. The price of crude oil was back over the $100 threshold, a level it had last seen before the latest market downturn.

The news comes as currency traders were watching monitors at the foreign exchange dealing room of the Hana Bank headquarters in Seoul on September 10. Asian shares skidded following the retreat on Wall Street, with oil prices playing a significant role in the decline.