Commodities
Middle East Tensions Send Brent Crude Price Over $100/bbl
Brent crude oil surpassed $100 per barrel for the first time in months as tensions in the Middle East escalated.
The US Central Command carried out additional strikes on Iran-linked oil tankers yesterday, hitting five vessels in response to Tehran targeting a US Navy warship.
Market analysts say the situation is causing upward pressure on Brent's price. 'The oil market continues to move higher this morning as the Middle East tension escalates,' noted two analysts from ING Bank.