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Oil surpasses $100 amid Middle East tensions
Oil prices surged, with Brent crude surpassing $100 per barrel for the first time since late July, amid growing concerns over Middle Eastern supplies due to escalating tensions in the region, particularly after Houthi attacks on Saudi facilities. This rise reflects an increase in geopolitical risks, with expectations of higher prices growing, especially following a decline in hopes of a settlement between the United States and Iran and the impact of the attacks on oil shipments through the Red Sea. Meanwhile, gold prices increased by 1% due to the weakening dollar and anticipation of economic data, amid mounting pressure on interest rates.
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