Asian markets retreated sharply on Thursday as surging crude oil prices crossed the key psychological threshold of $100 per barrel.
The dramatic escalation follows an unprecedented wave of maritime attacks in the Middle East, severely threatening vital international energy transit chokepoints.
Brent crude futures edged higher to $101.4 per barrel in early trading, cementing the highest sustained price levels observed since late May.
The renewed supply shocks arrive as investors anxiously await critical U.S. inflation data, which will dictate upcoming central bank monetary policy decisions.
Persistent geopolitical hostilities across the Persian Gulf region continue to dismantle months of relative market stability, driving up global risk premiums.
