Brent Crude Tops $100 as Inflation Fears Grip Global Markets

Global markets were mostly lower on Wednesday as investors navigated cautious trading. The price of Brent crude oil surpassed $100 per barrel, with a 2.5% increase to $100.39. Benchmark US crude rose 1.9% to $94.85.

The surge in oil prices has exacerbated inflation concerns, particularly ahead of the Friday report on US consumer inflation for August. Economists predict that inflation eased slightly to 3.3%, still above the Federal Reserve's 2% target.

The upcoming Fed meeting next week will decide whether to cut or raise interest rates. Japan's central bank will also meet to discuss its benchmark rate, with market watchers expecting an increase.