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Tehran, September 10, 2026 – Brent crude surged toward the symbolic $100 mark on Wednesday, rattling Asian equities and heightening fears of renewed inflationary pressures as geopolitical tensions in the Middle East escalated.
The sharp rise in energy prices underscored the fragility of global markets already bracing for central bank decisions in Tokyo, Frankfurt, and Washington.
Brent futures climbed to $99.49 per barrel, their highest level since late June, while West Texas Intermediate advanced to $94.63.
The rally was fueled by a string of violent incidents: Iranian-backed Houthis launched strikes on Saudi cities, U.S. forces intercepted Iranian oil tankers, and Tehran retaliated with attacks on a U.S. base in Jordan.
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Analysts now warn that triple-digit oil is “highly achievable,” with Brent serving as a real-time gauge of geopolitical risk.
Asian equities responded unevenly. Japan’s Nikkei rebounded 0.6 percent after a steep 1.7 percent drop the previous day, buoyed by chipmakers and AI linked stocks.
South Korea’s KOSPI jumped 1.6 percent, while Taiwan’s TAIEX added 0.6 percent.
In contrast, Hong Kong’s Hang Seng slipped 0.6 percent and Sydney’s ASX fell 0.3 percent.
Mainland Chinese blue chips edged up 0.2 percent, reflecting cautious resilience amid regional volatility.
Currency markets signaled tightening expectations.
The yen strengthened to 153.66 per dollar, its firmest in seven months, as traders positioned for a Bank of Japan rate hike on September 12.
The euro edged higher to $1.1629 ahead of the European Central Bank’s September 10 meeting, where a quarter point increase is widely anticipated.
Sterling held steady at $1.3545, with the Bank of England expected to stand pat on September 17. The Australian dollar ticked up to $0.7222.
Global investors now turn to U.S. inflation data due September 11, a pivotal release for the Federal Reserve’s September 16 policy decision.
Bond yields remain elevated as traders price in higher odds of tightening across major economies.
Meanwhile, Bitcoin hovered at $78,680.60, and gold gained 0.3 percent to $4,368 an ounce, underscoring investor hedging amid geopolitical uncertainty.
The convergence of surging oil, fragile equities, and shifting currencies highlights the precarious balance facing policymakers.
With energy markets on edge and inflation risks mounting, central banks across Asia, Europe, and the United States confront a delicate task: tightening policy without tipping economies into recession.
