Brent crude jumps $10 to $107 amid Iran tensions, while U.S. inflation data looms ahead of Treasury auctions.
Brent crude prices climbed to $107 per barrel, a $10 increase from last week’s lows, as U.S. President Donald Trump described the Iran ceasefire as “on life support.” Year-end futures also rose above $90, reflecting market anxiety over potential military escalation.
Global equities retreated after Wall Street’s record highs, with South Korea’s KOSPI index dipping partly due to domestic concerns over AI profit taxes. The energy shock adds pressure ahead of April’s U.S. consumer price report, where inflation is forecast to hit 3.7%, a near-three-year high.
Investors face a busy day with 10- and 30-year Treasury debt auctions, complicating the outlook for risk assets amid rising geopolitical and inflation risks.