Brent opens lower after two weeks of escalating violence pushed crude to more than $100 a barrel
Source: Financial Times
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DW NOTE
Brent was at $96.78 this morning — down 18% from its recent peak. The FT is reporting it fell below $100 after a pause in strikes. That means it spiked above $100 during the escalation, then dropped when the violence stopped. The entire move was a war premium, nothing else.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.2
Bitcoin advanced to as high as $79,700 while Brent crude topped $100 and European shares fell, leaving crypto tracking gold rather than equities.
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