Oil shatters $100 ceiling, hitting levels not seen since 2022 as Iran conflict escalates

Crude oil prices surged on Monday as the Iran conflict shows no signs of de-escalation and reports indicate some major producers were forced to cut output. The developments are driving upward pressure on oil benchmarks, increasing inflationary and risk-off pressures for markets and raising the chance of broader macro and sector volatility.

Analysis

Crude oil prices surged on Monday as the Iran conflict shows no signs of de-escalation and reports indicate some major producers were forced to cut output. The developments are driving upward pressure on oil benchmarks, increasing inflationary and risk-off pressures for markets and raising the chance of broader macro and sector volatility.