Oil Prices Soar Past $100 as Middle East Conflict Intensifies

Oil prices surged past $100 per barrel as conflict in the Middle East intensified, with Brent crude topping $100 for the first time since late July.

The U.S. Treasury announced it would triple its bond buybacks to up to $6 billion, but this move had a negative impact on long-term yields, pushing them to multi-year highs.

Global stock markets fell in response to the oil price increase, with major indices and European markets dropping as higher oil prices fueled economic uncertainty.