Commodities
Brent Crude Tops $106 as Iran War Continues
The price of Brent crude oil has reached $106.04 per barrel, marking a significant milestone in its recent rally. This morning's surge is part of an ongoing trend that began when Brent first broke through the $100 mark.
The war with Iran is cited as the main reason for the increased prices, which have disrupted global crude oil supplies and deepened inflation worries. The supply disruption has added pressure to the bond market, contributing to a drop in stocks on Wall Street.
The price of U.S. WTI (West Texas Intermediate) crude stood at $101.09 a barrel for futures contracts this morning, while European natural gas on Amsterdam's TTF market ranged between €80 and €82.59 per megawatt hour.