Economy / Markets
Oil jumps and Brent tops $100 as Middle East attacks and hurricanes tighten supply
Crude prices jumped on October 8 after attacks on shipping in the Strait of Hormuz and US output cuts tied to hurricane activity raised supply fears. Front-month WTI and Brent settled up about 3.6% and 4.1% respectively, with Brent holding above $100 a barrel. The move added to inflation pressure that has kept Treasury yields near multi-decade highs, while analysts pointed to the Iran standoff and the coming US earnings season as drivers of market sentiment.