U.S. crude rises above US$100 as Iran tensions raise supply concerns
Oil prices have climbed above US$100 a barrel as investors assess whether escalating Middle East tensions could cause further supply disruptions.
U.S. crude oil has risen above US$100 a barrel, according to CNBC, as markets weigh the risk that escalating tensions linked to Iran could worsen disruptions to global supply.
The move comes as investors assess the potential market impact of a prolonged conflict. The supplied reporting does not establish the scale or location of any further disruption, or confirm how long the tensions will last.
Related market reporting said Brent crude also reached US$100 a barrel. U.S. stocks fell as oil prices rose, while Treasury yields climbed amid renewed concern about inflation.
The U.S. two-year Treasury yield reached 4.42%, while the 10-year yield was near 4.8%. The moves increased expectations that the Federal Reserve could raise interest rates at its next policy meeting.
