Oil Surge Past $100 Rekindles Recession Fears, Fed Hike Odds Rise

Brent and WTI crude both topped $100/bbl for the first time since July, driven by renewed U.S.-Iran tensions with no diplomatic off-ramp. The spike has raised market odds of a Fed rate hike next week and revived recession concerns for the first time since the early weeks of the Iran war, marking a shift from six months of economic resilience.