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Commodities

Oil Prices Soar Towards $100 as US-Iran Conflict Escalates

Guavy AI Editorial Team
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Oil
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Global markets are feeling the heat as tensions between the US and Iran escalate. The conflict has sent oil prices surging, with Brent crude climbing towards $100 a barrel.

This rise in oil prices is stoking inflation concerns, which are already heightened following Friday's strong August nonfarm payrolls report.

Markets are now pricing in a greater than 50% chance of a 25-basis-point rate hike at the September 15-16 Federal Reserve meeting.

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