Energy price crisis: Brent crude oil price rises to $108
Attacks in the Persian Gulf are driving oil prices up. The stock exchanges are trembling and investors are now looking at the US inflation data.
The price of a barrel of Brent crude oil reached $108 on Thursday, its highest level since May. This surge follows a day after it exceeded $100, amid escalating tensions between the US and Iran around the Strait of Hormuz, a key oil transport route. US stock markets continued their weak week, with the Dow Jones Industrial down 0.6% to 52,064.10 and the Nasdaq 100 falling 1.08% to 29,103.51. The S&P 500 also declined 0.58% to 7,591.70, as investors worry about rising inflation and potential interest rate hikes.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
