- Oil topped $105 a barrel, with the surge tied to signs of deeper escalation in the Middle East conflict.
- The escalation threatens a recent uptick in flows from the region, adding a supply-risk premium to crude.
- The move adds to worries over faster inflation around the world.
Quotes
“Oil surged — topping $105 a barrel — as signs of deeper escalation in the Middle East conflict threatened a recent uptick in flows from the region, adding to worries over faster inflation around the world.”