Brent crude prices have topped $100 per barrel for the first time since July amid escalating military exchanges between the U.S. and Iran, while a separate trade dispute between the U.S. and Canada adds to global economic uncertainty.
Benchmark European natural gas contracts surged to their highest levels since 2023 as an escalating conflict involving the U.S. and Iran threatens key LNG transit routes through the Strait of Hormuz. The price spike comes as Europe faces below-average storage levels ahead of winter.
Iraq is reportedly pushing for a significant increase in its oil production quota to 6 million barrels per day, a substantial jump from its current ceiling, as the OPEC+ alliance conducts a review of member capacities.
The international oil benchmark breached the key psychological level for the first time since July amid attacks on Saudi energy facilities, stoking fears of major supply disruptions.
Gold recovered from a three-day slide as the U.S. dollar softened, but the precious metal's upside remains capped by investor anxiety over a potential Federal Reserve interest rate increase next week.
Oil prices surged as escalating military actions between the United States and Iran stoked fears of significant supply disruptions in the Middle East, pushing the global benchmark Brent crude toward the key psychological level of $100 per barrel.
Crude oil futures jumped more than 1% in early trading after Iran's Revolutionary Guards launched ballistic missiles at U.S. military assets, intensifying geopolitical risks in the region.
Copper prices on the London Metal Exchange surged to a new record, driven by an arbitrage trade linked to potential U.S. tariffs and compounded by growing supply disruptions in top producer Chile.
European and UK wholesale natural gas prices climbed 2% on Monday, nearing multi-year highs, as escalating military tensions in the Persian Gulf and critically low storage levels heightened concerns over winter supply security.
