Brent crude tops $100 as U.S.-Iran strikes stoke supply fears
financeSep 9, 202645139
Brent crude topped $100 a barrel on Wednesday, breaching that level for the first time since July 24 as escalating U.S.-Iran tit-for-tat strikes stoked fears of disruptions to Middle East oil supplies. Benchmark Brent rose about 2.1% to just over $100 a barrel, while U.S. crude futures held north of $90 a barrel. Market participants cited the renewed hostilities around key Gulf shipping routes and a partial recovery in Chinese oil buying as drivers of the rally. Traders said the move reflected a repricing of near-term supply risk rather than a fundamental shift in global inventories. The price surge pushed energy-linked assets higher and revived investor concern about renewed inflationary pressure from fuel costs, a factor markets will watch alongside central bank policy steps.
