Oil hits $100, markets dip, gold up
Oil prices rose above $100 a barrel due to concerns over supply disruptions in the Middle East, especially as tensions in the Strait of Hormuz intensified and Gulf oil exports have declined by about one-third since the start of the war with Iran in February. This increase in oil prices led to a decline in Asian stocks and a rise in U.S. bond yields, while currencies remained relatively stable. Gold prices also went up as a result of the dollar's weakness, with investors awaiting U.S. inflation data that will influence future interest rate hike decisions.
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