Brent crude hits $100 as Trump reinstates tariffs amid trade tensions

Brent crude oil prices have surpassed $100, driven by the reinstatement of tariffs by Trump and the ongoing Iran conflict. These geopolitical tensions are significantly impacting global markets. Market data indicates a probability between 19.5% and 20.5% that Brent crude will reach a new all-time high by December 31. The surge reflects the combined pressure of trade disputes and regional instability, leading to increased volatility and higher pricing for the global benchmark crude.