Oil Hits $105 as Iran Shows No Signs of Backing Down

🇺🇸 Bloomberg (US) —

AI Summary

Crude oil prices rose above $105 per barrel as tensions with Iran escalate, reflecting concerns about global oil supply stability. US gasoline prices also hit record highs over the Labor Day weekend, complicating economic conditions.

Brent crude oil prices top $105 a barrel as rising tensions in the Middle East heighten concerns about global supplies. US gasoline prices hit a record over the Labor Day weekend. Bloomberg's Michael McKee has the data. Mike Reid of RBC says this all puts the Fed in a tough spot. (Source: Bloomberg)

World Conflict Politics Markets Commodities Energy oil prices Brent crude Iran Middle East tensions gasoline prices US economy

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