Commodities
Middle East Escalation Pushes Oil Prices to Near $100
Oil prices surged to near $100 per barrel as tensions between the US and Iran escalated.
The Brent crude price rose to $97, while WTI hit $92 after reports of missile strikes on oil tankers and other targets emerged.
The energy market turmoil has enticed expectations of persistent inflation and rising interest rates, further solidifying bond yields at elevated levels.
US-orchestrated peace talks with Russia and Ukraine over the weekend did not provide any concrete signs that oil and gas markets will benefit from a near-term end to the war.