{
  "id": 6723272,
  "title": "Oil nears $110 per barrel, stocks tumble as Middle East crisis deepens",
  "url": "https://urgent.news/2026/09/11/oil-nears-110-per-barrel-stocks-tumble-as-middle-east-crisis-deepens",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-11T06:50:00.000Z",
  "source": {
    "name": "IOL",
    "slug": "iol",
    "url": "https://iol.co.za/business/economy/2026-09-11-oil-nears-110-per-barrel-stocks-tumble-as-middle-east-crisis-deepens/"
  },
  "original_language": "en",
  "account": "Asian markets plummeted on Friday as oil prices surged and bond yields hit multi-year peaks due to escalating tensions in the Middle East. The crisis, involving the US and Iran, has raised concerns about oil supply, while a US inflation report has heightened expectations for more rate hikes. Crude prices have jumped over 30 percent in a week, with Brent oil flirting with the $110 per barrel mark, its highest since May. The US benchmark West Texas Intermediate also hit over $104 per barrel, last seen around the same time. The conflict has forced Yemen's Houthis to target several Saudi Arabian energy sites, potentially disrupting a vital alternative energy route. Brent oil nearly reached $110 per barrel, and West Texas Intermediate peaked at over $104, last seen around the same time. As the war shows no signs of ending, investors are bracing for further inflation, putting pressure on central banks to tighten monetary policy. The 30-year Treasury yield soared to 5.36 percent, a new post-2007 peak, while the 10-year yield neared five percent and a 19-year high. The European Central Bank raised rates and warned of persistent price rises, while markets watch the Federal Reserve's upcoming policy meeting. The US consumer price index release is expected to further fuel rate hike speculation, with a more than 70 percent chance of a quarter-point increase. The combination of soaring oil prices, rising inflation expectations, and ongoing hostilities is causing risk assets to suffer. Wall Street indexes declined sharply, and European and Asian markets followed suit. The dollar strengthened against the yen as expectations of higher US interest rates grew. Prolonged hostilities in the Middle East are increasingly becoming a permanent factor in the energy market, putting upward pressure on prices.",
  "summary": "Asian stocks tumbled on Friday as oil prices rose and bond yields held near multi-year highs, with the Middle East crisis stoking supply fears and hotter-than-expected US inflation fuelling rate hike bets.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 9,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "WTI Oil rises as Middle East escalation threatens global supply",
        "url": "https://urgent.news/2026/09/09/wti-oil-rises-as-middle-east-escalation-threatens-global-supply",
        "published": "2026-09-09T15:01:07.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Indian rupee drops to over one-week low as oil bubbles on Middle East worries",
        "url": "https://urgent.news/2026/09/10/indian-rupee-drops-to-over-one-week-low-as-oil-bubbles-on-middle-east",
        "published": "2026-09-10T10:49:39.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "Nestle CEO says Middle East conflict driving inflation, higher supplier costs",
        "url": "https://urgent.news/2026/09/10/nestle-ceo-says-middle-east-conflict-driving-inflation-higher",
        "published": "2026-09-10T12:26:00.000Z"
      },
      {
        "outlet": "Le Monde English",
        "title": "ECB raises key interest rate to 2.5% as Middle East wars fan inflation fears",
        "url": "https://urgent.news/2026/09/10/ecb-raises-key-interest-rate-to-2-5-as-middle-east-wars-fan-inflation",
        "published": "2026-09-10T13:23:26.000Z"
      },
      {
        "outlet": "CNBC World",
        "title": "Nestle CEO says Middle East conflict driving inflation, higher supplier costs",
        "url": "https://urgent.news/2026/09/10/nestle-ceo-says-middle-east-conflict-driving-inflation-higher-6595901",
        "published": "2026-09-10T13:24:25.000Z"
      },
      {
        "outlet": "Financial Post",
        "title": "Oil hits US$105 as Middle East flareup heightens supply worries",
        "url": "https://urgent.news/2026/09/10/oil-hits-us-105-as-middle-east-flareup-heightens-supply-worries",
        "published": "2026-09-10T15:58:33.000Z"
      },
      {
        "outlet": "Hellenic Shipping News",
        "title": "Global coal demand set to increase this year amid Middle East conflict",
        "url": "https://urgent.news/2026/09/10/global-coal-demand-set-to-increase-this-year-amid-middle-east-conflict",
        "published": "2026-09-10T21:00:41.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Dollar holds gains, yen slips as Middle East energy shock deepens",
        "url": "https://urgent.news/2026/09/11/dollar-holds-gains-yen-slips-as-middle-east-energy-shock-deepens",
        "published": "2026-09-11T01:26:49.000Z"
      }
    ]
  },
  "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."
}