Markets Waver as Brent Holds Near $95 on Middle East Strikes and Inflation Fears
Updated
Updated · The New York Times · Sep 2
Markets Waver as Brent Holds Near $95 on Middle East Strikes and Inflation Fears
3 articles · Updated · The New York Times · Sep 2
Summary
Brent crude traded just under $95 a barrel on Wednesday, leaving markets unsteady as investors absorbed fresh U.S. strikes on Iran, Iranian retaliation in Jordan and Iraq, and attacks on commercial shipping.
Oil has climbed back above $90 after a month without U.S. strikes, with Brent up more than 30% since the war began and U.S. benchmark WTI near $90.
Higher energy costs are feeding into gasoline, diesel and other refined fuels, stoking inflation fears that have hit bonds especially hard and added to worries over debt levels and deficits.
Shipping risks remain centered on the Strait of Hormuz—once carrying about one-fifth of global oil supply—while Houthi attacks have also constrained traffic through the Bab al-Mandab, threatening growth as borrowing costs rise.