Oil Surges Past $100/Barrel as Supply Disruptions Bite

Commodity markets were mixed on September 10 as oil prices held firm after Brent crude broke through the $100-a-barrel mark, while gold prices remained steady in anticipation of US inflation data due later that week.

The surge in oil prices was largely attributed to supply concerns following a series of attacks on shipping by Iran and the United States. As a result, Brent crude futures rose 0.1% to $101.34 a barrel, with U.S. West Texas Intermediate crude increasing by 0.5% to $96.55 a barrel.

Gold, on the other hand, was relatively steady, trading near $4,400 an ounce after adding 1% in the previous session to snap a three-day losing streak. Meanwhile, silver was little changed at $67.29 an ounce, while platinum and palladium edged higher.