Commodities
Brent Crude Surges Above $100 as US-Iran Tensions Escalate
The price of Brent crude oil has surged above $100 per barrel for the first time since May, driven by escalating tensions between the US and Iran.
US President Trump's threat of a 'massive attack' on Iran sent Brent prices jumping over 6% to $100 a barrel, with Asia trading near $101.04 as of July 23rd.
The key risk for the Middle East situation is further escalation, which could lead to higher oil prices and increased expectations for a Federal Reserve rate hike.