Middle East Tensions Send Oil Prices Soaring Past $100

Oil prices have breached the $100 per barrel threshold as tensions in the Middle East escalate. The Brent crude price surge comes amidst concerns about energy-driven inflation and its potential impact on upcoming central bank decisions.

The recent conflict between Iran and a US base in Jordan has raised fears of disruptions to oil supplies from the region, driving up prices. This development has rippled through global markets, with stock indexes opening lower across the board.

The Dow Jones fell 0.75%, the S&P 500 dropped 0.30%, and the Nasdaq declined 0.35%. In Europe, the STOXX 600 index and MSCI's global stock gauge also took a hit as investors await the European Central Bank's policy decision.