Brent crude exceeds $101 as US-Iran tensions spike and Scott Bessent raises Treasury buy cap to $6 billion
Oil prices surge past $101 per barrel amid renewed US-Iran conflict, while the US Treasury announces a new mandate to purchase up to $6 billion in government debt.
Market indices closed lower globally as the day ended on Thursday, September 10. Brent crude oil climbed above US$101 per barrel following heightened tensions between the United States and Iran. The concurrent rise in oil prices drove bond yields higher, creating conflicting signals for investors. Analysts estimate a 60% probability that the Federal Reserve will raise interest rates in September, meaning inflation data releases today and tomorrow hold increased significance. On Monday, the US Treasury Department stated it would purchase up to $6 billion of 10-to-20-year government debt. This limit is three times higher than the previous cap of $2 billion.
