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Oil jumps to $105, pushing up chances of a US interest rate increase
Oil prices have increased by four percent, with benchmark Brent crude hitting $105 a barrel after the biggest rise in attacks on shipping since the Iran war began spurred trader concerns about further supply disruptions.
AI Summary
Oil prices rose sharply, with benchmark Brent crude climbing four percent to $105.26 a barrel by 1215 GMT on Thursday. The surge follows the largest wave of attacks on shipping since the Iran war began, prompting trader concerns over possible supply disruptions. U.S. West Texas Intermediate futures also jumped, reaching $100.04 a barrel, marking the first time the benchmark has topped $100 since May. The price spikes have heightened speculation that the moves could influence expectations for a U.S. interest‑rate increase.
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