Oil hits $100 as Trump considers major military action against Iran: FT

Oil prices have surged to $100 a barrel as former President Donald Trump considers a significant military response against Iran. The Financial Times reports that this potential escalation follows recent Houthi rebel attacks on Saudi oil tankers, exacerbating concerns over supply disruptions in crucial maritime routes. This development has intensified speculation over the future trajectory of oil prices, as markets weigh the implications of rising geopolitical tensions in the Middle East. The price of Brent crude, a global oil benchmark, has already seen a notable increase of over 10% since the onset of the latest hostilities. Key Takeaways The news of oil reaching $100 appears to reflect heightened geopolitical tensions, consistent with scenarios of potential military conflict. Market activity suggests a notable rise in the probability of crude oil reaching a new all-time high by the end of the year. The potential for supply disruptions due to Middle East tensions seems to be a significant factor influencing current market pricing. What to Watch Watch for any further announcements or actions from Donald Trump regarding military strategies, as these could significantly impact oil ma...