Asian Shares Mixed as Brent Crude Approaches $100 Barrel

Asian shares were mixed in cautious trading on Wednesday as investors watched for potential moves on interest rates and rising oil prices.

The price of Brent crude, an international standard, approached $100 a barrel, increasing worries about high inflation. The benchmark rose 1.4% to $99.30, briefly reaching $99.46 overnight.

Markets are feeling the pressure from the global flow of oil being constricted due to increased fighting in the Middle East.

In the bond market, the yield on the 10-year Treasury rose to 4.79% from 4.78%, its highest level since autumn 2023.

The Federal Reserve will meet next week to decide whether to cut, raise or hold interest rates steady. President Donald Trump has been lobbying for lower interest rates, while economists expect a slight easing of inflation from 3.4% in July to 3.3% this month.