Brent oil tops $100 on Mideast flare-up, fanning inflation fears
Brent oil, the international benchmark, jumped above $100 a barrel on Sept. 9 for the first time since the end of July on a fresh flare-up in the Middle East war, adding to concerns over high inflation.
The jump in crude futures — with Brent North Sea rallying 2.8 percent to $100.65 a barrel — weighed on stock markets, as investors eye interest-rate hikes from major central banks bidding to keep a lid on consumer prices.
European markets were especially jittery, with Paris shedding nearly two percent in afternoon deals.
Oil at "$100 is a psychological level that matters for markets", noted Kathleen Brooks, research director at XTB trading group.
