Oil tops US$100 a barrel as Middle East fighting rattles markets
Brent crude surged past US$100 per barrel amid escalating Middle East conflict, driving up global interest rates and sending equities lower.
Brent oil rose above US$100 per barrel, its highest level since May, as intensifying fighting in the Middle East threatened the global flow of crude. The surge pushed global interest rates to levels not seen since early 2025 and sent US equities sharply lower, with technology stocks among the hardest hit. The US dollar strengthened broadly while the New Zealand dollar underperformed against most other currencies.
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Stuff
Oil tops US$100 per barrel amid ongoing fighting in Middle East
Brent oil has shot to its highest price since May as increased fighting in the Middle East threatens to slow the global flow of crude.
interest.co.nz
USD broadly stronger but NZD underperforms against most others
Middle East tension increase. Brent crude steadily rises up through USD101/bbl. This drives up global rates to levels not seen since early 2025. US equities much lower, accentuated by falls in the Mag7 on capex concerns
interest.co.nz
Breakfast briefing: Oil price surge sees financial markets stagger
Middle East escalation hits financial markets; Canadian retail sales rise; China FDI rises; India protests spread; EU fines Google; Australian labour market strong; UST 10yr at 4.70%; gold falls; oil jumps; NZ$1 = 57.7 USc; TWI-5 = 61.6