What is the current price of Brent crude, and how does it compare to recent levels?

Brent crude climbed 6.3% and briefly topped $108 per barrel for the first time since May before settling at $107.63 — up from less than $72 in early July, driven by disruptions from the war with Iran.

How are rising oil prices affecting U.S. inflation and Federal Reserve policy expectations?

Rising oil prices are worsening inflation concerns, contributing to a jump in U.S. wholesale inflation to 5.4% last month from 4.8% in July; this has increased traders’ expectation of a Federal Reserve rate hike next week to a 73% probability, up from 61% the day before, despite President Trump’s calls for lower rates.

Oil Prices Surge to Highest Since May, Dragging Wall Street Lower

Sep 11, 2026

Oil prices surged past $107 per barrel amid Middle East tensions, fueling inflation fears and pushing U.S. stocks lower. Rising wholesale costs may prompt the Federal Reserve to raise interest rates soon.

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