Brent crude oil prices topped $100 per barrel on Thursday morning, extending gains for a fifth consecutive session as escalating tensions in the Middle East fueled fears of supply disruptions.
The move has already triggered noticeable reactions across financial markets, from energy stocks to Treasury yields and foreign exchange, suggesting investors are beginning to position for a potentially more inflationary backdrop.
Why Oil Is Rising Oil prices – as closely tracked by the United States Oil Fund (NYSE:USO) – accelerated after geopolitical risks intensified in the Middle East.
The latest catalyst came after Iran-backed Houthi militants attacked two Saudi oil tankers in the Red Sea, marking the first direct strikes against tankers in the strategic waterway.
The attacks added to concerns over potential disruptions to a critical export route for Saudi crude.
