Oil Prices Soar to Near $100 a Barrel Amid Middle East Tensions

Asian markets are showing mixed results in early trading as investors weigh their options amidst rising oil prices.

The price of Brent crude has surged to $99.30 a barrel, with a brief climb to $99.46 overnight.

This increase is partly due to increased fighting in the Middle East constricting global oil flow and adding to inflation worries.

Markets are looking ahead to Friday's report on US inflation, which is expected to show a slight easing to 3.3% from July's 3.4% rate.

The Federal Reserve meets next week to decide on interest rates, with economists predicting a possible increase due to high inflation.