Commodities
Brent Crude Surpasses $100 per Barrel Amid Escalating Middle East Tensions
Brent crude oil has surpassed the $100 per barrel mark for the first time since May 22, reaching a close of $101.21 on September 9.
West Texas Intermediate also rose to its highest level since late May, closing at $96.05.
The price surge comes as tensions in the Middle East continue to escalate, with the US Central Command announcing it had struck five Iranian crude-oil tankers.
Lukman Otunuga, head of market research at FXTM, warned that a prolonged oil shock could keep price pressures elevated and complicate the path for central banks.