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Global energy markets reached a price level not seen since May, with crude oil touching $100 a barrel after President Donald Trump warned that the United States is weighing a "massive attack" on Iran.
Wall Street stocks fell alongside the move.
The simultaneity of the two, energy prices surging and equities retreating in the same session, traces back to a single driver: an escalating geopolitical premium in the Middle East.
What the $100 level means for inflation and central banks Crude at $100 is a figure that carries weight beyond the energy sector itself.
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