Oil Prices Today: Brent Nears $98 as Inflation Fears Return

Oil prices today surged to their highest levels in weeks after renewed conflict in the Middle East raised concerns about disruptions to global crude supplies. Brent crude approached $98 per barrel, fueling inflation fears and increasing volatility across global financial markets.

The jump in crude prices pushed government bond yields higher and weighed on stock markets as investors reassessed the outlook for interest rates. Analysts warned that prolonged supply disruptions could increase transportation and manufacturing costs, adding pressure to consumer prices worldwide.

Financial markets are now closely monitoring geopolitical developments, as sustained high energy prices could delay interest rate cuts and affect economic growth during the second half of 2026.