Oil prices surge
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The decline snapped multi-day winning streaks for both Brent and WTI crude oil futures.
Oil has climbed above $100 a barrel as the war with Iran disrupts global energy markets, putting pressure on gasoline, transportation, food and other household costs.
Asian shares are declining while tracking Wall Street losses. Oil prices have gained, with Brent crude trading above $108 a barrel in its highest level since May, as tensions intensified between the U.
Foreign ministers from the Gulf Cooperation Council—which is comprised of Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, and Oman—will meet their Iranian counterpart on Monday.
Stock futures pointed to a higher open Friday ahead of an important Consumer Price Index reading—although major indexes were poised to close lower for the week—as oil prices and Treasury yields declined.
International oil prices have increased ahead of the Energy and Petroleum Regulatory Authority (EPRA)’s September 2026 fuel price review, according to the CBK.
Austrian central bank governor Martin Kocher says risk of elevated inflation is higher than it was a few months ago