Brent Crude Surpasses $100 a Barrel Amid Inflation Concerns

Global stocks were mostly lower on Wednesday as investors reacted to rising oil prices and concerns over inflation.

Brent crude surpassed $100 a barrel, up 2.5% at $100.39 per barrel, while US benchmark crude gained 1.9% to $94.85 per barrel.

Market watchers are expecting the US Federal Reserve to raise interest rates next week in response to high inflation, which has been above the 2% target since July.

Economists predict consumer inflation will have eased slightly to 3.3% from July's 3.4%, but this is still higher than the Fed's target.