Oil Prices Push Past $100 Amid Inflation Concerns

The US markets are bracing for an eventful second half of the week as investors weigh in on rising oil prices and bond yields.

Oil prices have breached the $100 barrier, with Brent futures leading the charge. The conflict in the Middle East remains a major concern, and a sustained rise in energy prices could put renewed pressure on inflation.

The Federal Reserve is also under scrutiny as it prepares to make its next move on interest rates. The producer price index (PPI) report for August is due out on Thursday, followed by the consumer price index (CPI) on Friday.

If inflation data turns out higher than expected, this could cement expectations of a rate hike from the Fed's September 16 meeting, putting renewed pressure on risk assets.