$105 Oil: A Canary in the Coal Mine for a US Rate Hike The recent surge in oil prices, with Brent crude hitting $105 a barrel, has sent shockwaves through the financial markets and reinforced the likelihood of an interest rate increase by the Federal Reserve.
The price jump is largely driven by ongoing tensions between the US and Iran, which have escalated in recent days.
The attacks on oil tankers in the Strait of Hormuz have led to fears of prolonged supply disruptions, pushing up prices.