Middle East Tensions Fuel Oil Price Surge to Near $110/Bbl

Oil prices surged on September 11th, with ICE Brent settling more than 6% higher. This significant increase brought oil prices near $110/bbl in early morning trading.

The resilience of oil prices can be attributed to market concerns over the escalating situation in the Middle East. Despite this, copper prices have fallen sharply from a fresh record after Reuters reported that the US has not yet made a decision on refined copper tariffs.

Sugar prices continued their upward trend for a fourth consecutive session, settling 1.8% higher on the day.