Oil Prices Surge Towards $100 as US-Iran Conflict Escalates

The escalating conflict between the US and Iran has sent oil prices surging towards $100 per barrel, sparking concerns about inflation and the impact on global markets.

Brent crude oil prices have jumped to their highest level in three months as tensions between the two nations continue to rise. The price increase has added to inflationary pressures, making it more likely that the Federal Reserve will raise interest rates at its upcoming meeting next week.

Despite these headwinds, retail sentiment on Stocktwits has turned bullish for key indices including the S&P 500 and Nasdaq-100. However, tech stocks such as Nvidia, Oracle, and Intel have been affected by the conflict, with some experiencing significant gains in early premarket trading.