Oil tops $100 as tariffs and tensions roil global markets
TL;DR Summary
Brent crude closes above $100 for the first time since May amid Red Sea–related tensions after Yemen strikes, fueling inflation fears and lifting the 10-year yield; President Trump vows to hold Iran responsible for further attacks as new 10%–12.5% tariffs on about 60 partners take effect. ECB holds rates with a September hike priced in, and Japan’s core inflation ticks up, underscoring persistent inflation risks. Amidst macro jitters, AI-spending news hits tech stocks like Alphabet and Tesla, while other corporate headlines include Oracle winning a Pentagon contract and a Google EU penalty.
- CNBC Daily Open: Brent crude is back at $100 — and Trump renews tariffs CNBC
- A dangerous new phase of war is breaking all the oil market’s constraints CNN
- Oil Prices Waver as Gulf Ship Traffic Falls to Lowest Level in Months The New York Times
- Oil's flirting with $100, but the energy shock may be bigger than it looks Business Insider
- Wall Street inches higher as markets absorb war, tariffs, high energy costs and AI anxiety AP News
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