Brent tops $100 as tanker attacks rattle stocks and bond yields
Why it matters: Higher fuel costs are pushing US gas above $4 a gallon and raising fresh inflation risks for central banks.
Brent crude rose above $100 a barrel on Thursday for the first time since May after attacks on oil tankers near Saudi Arabia deepened fears of supply disruption tied to the widening US-Iran conflict. US crude climbed above $90, while the S&P 500 headed for its biggest drop in a month and the 10-year Treasury yield moved above 4.7%, its highest since January 2025, as investors priced in the economic fallout from pricier energy. The surge followed several days of gains as the United States stepped up strikes against Iran and Houthi fighters threatened a Red Sea route Saudi Arabia has used to bypass the Strait of Hormuz. Analysts warned sustained oil gains could feed through to food, transport and borrowing costs.