{
  "id": 6483578,
  "title": "Brent oil passes US$100 on Middle East flare-up",
  "url": "https://urgent.news/2026/09/09/brent-oil-passes-us-100-on-middle-east-flare-up",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-09T21:36:38.000Z",
  "source": {
    "name": "RTHK News - Finance",
    "slug": "rthk-news-finance",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1869476-20260910.htm"
  },
  "original_language": "en",
  "account": "Brent oil prices surged past the US$100 mark per barrel for the first time since late July, following a resurgence of tensions between the United States and Iran. This led to worries about rising prices and potential interest rate hikes. Brent crude, now trading at US$101.21 a barrel, caused a drop in stock markets as investors feared central banks might raise rates to curb inflation. Wall Street’s Dow closed 0.8 percent lower, while European markets also fell, with shares in Paris down nearly two percent. European natural gas prices spiked to their highest level since early 2023, reaching over 80 euros per megawatt-hour, as countries stock up for winter. Brent oil prices, a psychological threshold for markets, could hinder economic growth, argued Kathleen Brooks, a trading director. The main US oil contract, West Texas Intermediate, soared to over US$96 per barrel. Patrick O'Hare, an analyst, blamed the price hike on US-Iran skirmishes. US diesel prices hit a record US$5.94 per gallon, pressuring President Donald Trump ahead of midterm elections. Markets will be watching Friday's US inflation data, which could confirm expectations of a Federal Reserve rate hike. If inflation meets or exceeds forecasts, it would signal a potential rate hike, said Forex.com analyst Fawad Razaqzada. The European Central Bank is expected to raise eurozone rates on Thursday, according to forecasts. Inflation worries have pushed up yields on government debt, with the 10-year US Treasury bond's yield hitting its highest level since 2023, despite the US Treasury announcing a debt buy-back program. Meanwhile, the US and Canada are locked in a trade dispute, with the Trump administration announcing an incoming import ban, including alcoholic beverages. Iran retaliated by attacking US targets in retaliation for strikes on Iranian oil tankers, setting the stage for further conflict. Elsewhere, Apple unveiled its first foldable smartphone, but shares slipped 0.3 percent. The S&P 500 fell 0.5 percent, the Dow fell 0.8 percent, and the Nasdaq dropped 0.6 percent.",
  "summary": "International oil benchmark Brent spiked above US$100 a barrel on Wednesday for the first time since late July, following renewed US-Iran hostilities, stoking fears of price increases and interest rate hikes. The jump in crude prices – with Brent up more than three percent to US$101.21 a barrel – dragged down stock markets as investors worried that major central banks will raise rates to keep a…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "Brent oil passes US$100 on Mideast flare-up, stoking inflation fears",
        "url": "https://urgent.news/2026/09/09/brent-oil-passes-us-100-on-mideast-flare-up-stoking-inflation-fears",
        "published": "2026-09-09T23:00:39.000Z"
      },
      {
        "outlet": "Nikkei Asia",
        "title": "Brent surpasses $100 per bbl as inflation fears mount",
        "url": "https://urgent.news/2026/09/10/brent-surpasses-100-per-bbl-as-inflation-fears-mount",
        "published": "2026-09-10T01:21:26.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}