Oil tops $100, stocks slide as Middle East tensions escalate
Brent crude prices surged past $100 a barrel on Wednesday, as escalating conflict in the Middle East fuelled worries about energy-driven inflation and sent global stocks tumbling ahead of several major central bank decisions.diesel prices hit a record high last week, as a global supply crunch intensified after wars in Ukraine and Iran impacted refineries in Russia and the Middle East.
The euro edged higher ahead of the European Central Bank’s policy decision on Thursday, with markets widely expecting a hike amid inflationary pressures from the Iran war.
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