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Oil nears $100 a barrel as Middle East tensions fuel inflation fears

Oil prices neared $100 a barrel on Tuesday as tensions reheated in the Middle East, fueling fears that higher inflation data could sway the Federal Reserve to raise interest rates next week.

Sources (1)· Sep 8, 2:54 PM

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Inflation report lands amid spiking oil prices, rising interest rates and Fed on fenceFriday’s inflation report is shaping up to be among the most consequential in years. Oil and gas prices have spiked again on the back of renewed combat in the Middle East. The Federal Reserve is considering whether to lift its short-term interest rate next week, with some officials saying Friday’s report could swing them either way. And longer-term…