Crude surges over $100 as Brent hits $107.63 and WTI reaches $102.48

Oil benchmarks posted substantial single-session advances, with Brent gaining 6.34% to $107.63 and WTI advancing 6.69% to $102.48. This marks the first time both crude benchmarks have crossed the $100 threshold since May, fueled by geopolitical tensions and tight balance fundamentals. The sharp move in energy commodity prices generated broad cross-asset pressure across equity markets and fixed income. Rising energy input costs complicate the inflation trajectory and prompt market participants to price in higher baseline rates from the Federal Reserve. — bearish pressure on SPY.

Oil benchmarks posted substantial single-session advances, with Brent gaining 6.34% to $107.63 and WTI advancing 6.69% to $102.48. This marks the first time both crude benchmarks have crossed the $100 threshold since May, fueled by geopolitical tensions and tight balance fundamentals. The sharp move in energy commodity prices generated broad cross-asset pressure across equity markets and fixed income. Rising energy input costs complicate the inflation trajectory and prompt market participants to price in higher baseline rates from the Federal Reserve.

• SummaryOil benchmarks posted substantial single-session advances, with Brent gaining 6.34% to $107.63 and WTI advancing 6.69% to $102.48. This marks the first time both crude benchmarks have crossed the $100 threshold since May, fueled by geopolitical tensions and tight balance fundamentals. The sharp move in energy commodity prices generated broad cross-asset pressure across equity markets and fixed income. Rising energy input costs complicate the inflation trajectory and prompt market participants to price in higher baseline rates from the Federal Reserve.

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