Brent Crude Oil Hits $100 a Barrel for First Time Since May
Brent crude oil surged past $100 a barrel on Thursday, its highest level since May, after prices jumped more than 6% in a single day. The rally reflects growing concern that the war in the Middle East is escalating and could disrupt regional oil supply.
Brent crude oil surged past $100 a barrel on Thursday, its highest level since May, as the global benchmark price rose more than 6% in a single trading day. The jump reflects mounting concern among traders that the war in the Middle East is intensifying, threatening to disrupt regional oil supply and shipping routes.
The rally marks one of the sharpest single-day moves in the oil market this year and comes after months of relative price stability. Analysts said the spike reflects both a genuine supply-risk premium and a broader shift toward safe-haven assets as investors reassess the odds of a wider regional conflict.
Higher oil prices raise the risk of renewed inflationary pressure just as several central banks had signaled confidence that price growth was cooling. Economists warned that a sustained rally above $100 could feed into transport and manufacturing costs, complicating policy decisions in the months ahead. Traders said they would watch closely for signs of further escalation or supply disruption in the region.
Read next
Liberty Bell Bay smelter was insolvent for over a year before closing, administrators say
Administrators say Tasmania's Liberty Bell Bay manganese smelter had been insolvent for more than a year before it received a AUD 20 million loan from the Tasmanian government. The smelter has since closed.
Australian government says fuel supply 'solid and secure' as petrol prices climb
Heatwave brings power cuts to Tunisia and wildfires to Algeria
Spain Wildfires: Record Heat Drives 70,000 Evacuations Near Madrid
