Commodities
Oil Prices Soar Past $100 Amid Ongoing US-Iran Tensions
US oil prices surged past $100 per barrel for the first time since May on Thursday as tensions between the US and Iran continue to escalate.
The price of Brent crude, the international standard, rose above $105 a barrel.
U.S. stock futures fell sharply, with the S&P 500 down 0.5% and the Nasdaq off by 1.1%.
A report showed that inflation in the US remains stubbornly high on the wholesale level, with prices for goods continuing to rise due to higher shipping costs.
The European Central Bank raised its key interest rate by one-quarter point to try to tame inflation in the European Union, but stock indexes in Europe fell sharply, with Germany's DAX down 0.7%.