Oil tops $100 as Bessent challenges currency markets
Brent crude has breached $100 per barrel for the first time since July following the destruction of five Iranian tankers, sending European gas prices to their highest levels since late 2022. The geopolitical shock is weighing on global equities and pushing Treasury yields higher as investors brace for potential inflationary impacts.
GN markets/commodities (en-US) reports that Brent crude has crossed the $100 threshold for the first time since July, driven by the sinking of five Iranian tankers in the Gulf of Oman. European natural gas prices are nearing 79 euros per megawatt-hour, their highest level since late 2022, while U.S. stock futures slide and 10-year Treasury yields hover above 4.8% amid renewed inflation concerns.
Source: GN markets/commodities (en-US)Brent crude exceeded $100 per barrel as tensions in the Gulf intensified.
Source: GN markets/fx (en-US)
