Oil Prices Surge Toward $100 Amid Middle East Conflict and Market Volatility
Crude oil benchmarks are climbing toward $100 per barrel following renewed military strikes in the Middle East, raising fears of disrupted global supply chains. The sharp energy price increase is fueling inflation concerns in China and strengthening the Japanese yen against a weakening US dollar.
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China’s factory-gate price growth picks up in August as Iran war fuels energy volatility
China’s factory-gate price growth accelerated in August, while consumer inflation picked up again, amid volatile energy and commodity costs linked to the US-Israel war on Iran. The producer price index rose 3.8 per cent year on year last month, up from 3.5 per cent in July, according to data released by the National Bureau of Statistics (NBS) on Wednesday. The reading beat a 3.6 per cent projection from economists polled by financial data provider Wind. Meanwhile, the national consumer price...
By Xinyi Wu
Read full article →Yen stands tall as dollar wobbles, oil's run towards $100 chills sentiment
The Japanese yen marked a significant climb on Wednesday, nearing its highest level since February as oil prices soared toward $100 per barrel due to escalating tensions in the Middle East. This development has made the U.S. dollar vulnerable against key currencies. Market participants are keenly awaiting U.S. inflation data that could sway central bank strategies.
Read full article →Oil nears $100 as fresh Middle East strikes raise supply risks
Read full article →Yen stands tall as dollar wobbles, oil’s run towards $100 chills sentiment
By Reuters
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