Oil Prices Surge Toward $100 Amid Middle East Supply Fears

China’s factory-gate price growth picks up in August as Iran war fuels energy volatility

China’s factory-gate price growth accelerated in August, while consumer inflation picked up again, amid volatile energy and commodity costs linked to the US-Israel war on Iran. The producer price index rose 3.8 per cent year on year last month, up from 3.5 per cent in July, according to data released by the National Bureau of Statistics (NBS) on Wednesday. The reading beat a 3.6 per cent projection from economists polled by financial data provider Wind. Meanwhile, the national consumer price...

By Xinyi Wu

Yen stands tall as dollar wobbles, oil's run towards $100 chills sentiment

The Japanese yen marked a significant climb on Wednesday, nearing its highest level since February as oil prices soared toward $100 per barrel due to escalating tensions in the Middle East. This development has made the U.S. dollar vulnerable against key currencies. Market participants are keenly awaiting U.S. inflation data that could sway central bank strategies.

Oil nears $100 as fresh Middle East strikes raise supply risks

Yen stands tall as dollar wobbles, oil’s run towards $100 chills sentiment

By Reuters

Oil nears $100 as fresh Middle East strikes raise supply risks

Oil prices rose for the fourth straight session, gaining more than $1 ​in early trade on Wednesday after renewed attacks across ‌the Middle East heightened worries about supply disruptions.

By Abubakar Ibrahim