Crude Prices Top $100 as US Iran Conflict Deepens
Crude prices topped $100 a barrel and US bond yields climbed as conflict in the Middle East intensified. Markets awaited the upcoming inflation report and Federal Reserve meeting amid growing economic uncertainty.
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Brent Crude Oil rose above $100 a barrel on Wednesday for the first time since July, driven by escalating conflict between the United States and Iran in the Middle East. The surge in energy costs has pushed benchmark U.S. 10-year yields toward 5% amid growing inflationary pressures. Investors are now bracing for the August CPI inflation report and next week's Federal Reserve policy meeting.
