Oil Nears $100 and Yen Hits Seven-Month High
Middle East hostilities pushed oil near $100 a barrel as U.S. markets reacted with caution. Meanwhile, the Japanese yen extended strong gains to reach a seven-month high against the dollar.
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Global oil benchmark Brent Crude Oil rose to a six-week high near $100 a barrel on Tuesday morning, driven by escalating Middle East conflicts that disrupted Gulf exports. The surge rippled across global financial markets, pushing the 10-year Treasury yield toward 5% and sending Wall Street indices into negative territory. Investors are recalibrating portfolios as geopolitical tensions intersect with sticky inflation and shifting central bank policies.
