Asian Shares Are Mixed as Brent Crude Approaches $100 a Barrel
Oil futures hit six-week highs as attacks on Saudi facilities and U.S. strikes on Iranian tankers stoke supply fears.
- On Tuesday, Brent crude oil futures traded over $97 a barrel, marching toward the $100 mark as attacks on Saudi Aramco facilities intensified Middle East tensions.
- Commodity veteran Jeff Currie warned that the "illusion of abundance" is fading, with predictions of a "return to normalization" in the Strait of Hormuz soon deemed "very, very optimistic."
- Asian shares traded cautiously early Wednesday as investors weighed potential interest rate decisions against rising oil costs, while economists expect Friday's U.S. inflation report to show rates eased to 3.3%.
- Tehran's Foreign Ministry spokesperson Esmaeil Baghaei criticized Canada for supporting U.S. action in the Strait of Hormuz, claiming Canada chose to "appease" the United States in "blatant contempt" for its sovereignty.
- Japan's central bank will meet next week to decide on benchmark rates, with market watchers expecting an increase, while the Federal Reserve also prepares to determine its interest rate path.
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30 Articles
Associated Press News
Asian shares are mixed as Brent crude approaches $100 a barrel
Asian shares are mixed in cautious trading, as investors watch for what might happen on interest rates and the war with Iran pushes oil prices higher.
The price of Brent crude futures on the London ICE exchange is moving towards $100 per barrel, according to trading data
The price of Brent crude futures on the London ICE exchange is moving towards $100 per barrel, according to trading data.This dynamic is noted against the background of the escalation in the Middle East.
Crude oil prices surge nearly 2 pc as Iran-US conflict escalates
Digital Desk | New Delhi, Sep 9 (IANS) Crude oil prices traded higher for a fourth straight session on Wednesday and gained around 2 per cent or over $1 as fresh attacks involving Iran, the United States and Saudi Arabia heightened concerns over supply disruptions in the Gulf. Brent crude rose as much as 1.79 per cent or $1.76 to near $100 a barrel, while US West Texas Intermediate crude gained 1.88 per cent or $1.75 to $94.78 a barrel. Brent…
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