Commodities
Global Stocks Slide as Oil Prices Spike to $100 Per Barrel Amid Middle East Tensions
The global stock market took a hit on September 9 due to escalating Middle East tensions and rising U.S. Treasury yields.
Oil prices surged, with Brent crude breaking above $100 per barrel for the first time since 2023, while WTI crude futures traded at $96.55 per barrel. Energy markets were the focal point of commodity market swings, with gold and silver also experiencing sharp price movements.
The Iran situation was cited as a key variable in determining near-term market sentiment, with any escalation potentially leading to further oil price spikes and suppressing global risk asset valuations through the inflation channel.