Global oil prices extend move over $90 after report of two tankers struck in Hormuz

NASDAQ 100 futures have declined by more than 1% following reports that oil tankers were attacked in the Strait of Hormuz. This escalation of geopolitical risks may drive inflation and complicate central bank policies. Consequently, global oil prices have risen, with Brent crude and West Texas Intermediate contracts reaching their highest levels in nearly two weeks, with prices extending beyond $90. These events highlight significant market volatility and potential instability across global financial systems.