Brent Crude Hits Near $100 as Global Risks Grow

The Brent Crude Oil price has neared $100 per barrel, while the yen carry trade unwinds. This shift in market sentiment is partly due to global economic concerns.

A key development on the foreign policy front involves Qatar working with its regional partners and China to revive talks between the US and Iran, according to the Qatari Foreign Ministry.

The escalating Canada-US trade spat has also grabbed attention. US Treasury Secretary Bessent believes that relations will improve and a trade war would only marginally impact inflation, adding 0.02% to it in the short term. The Canadian government has implemented retaliatory tariffs on $27.6 billion worth of US goods.