Commodities
$100 Oil Prices Soar Amid US-Iran Tensions
Oil prices surged above $100 per barrel on Wednesday as tensions between the US and Iran escalated, sparking concerns about the potential impact on global economies.
The price of Brent crude, the international standard, reached $101.21 a barrel, while US benchmark crude settled at $96.05 a barrel.
Lukman Otunuga, market research head at FXTM, noted that the return to the $100 mark is 'a major psychological milestone for markets,' but warned of potential inflationary pressures.