Oil Prices Soar Past $105 Amid Escalating Middle East Tensions
Brent crude oil prices have broken through $105 per barrel due to escalating tensions in the Middle East, causing concerns over global supply.
The increase has led to record highs for U.S. gasoline prices over the Labor Day weekend.
Mike Reid from RBC stated that this situation has put the Federal Reserve in a difficult position, suggesting it could plunge into the abyss again tomorrow.