Asian stocks have fallen, and Brent oil extended gains a day after breaking the psychological $100 barrier on the back of resurgent Middle East hostilities that have fanned inflation fears, AFP reports.
Brent hit a high of $101.94, while West Texas Intermediate peaked at $97.79, the highest since May.
The rally has stoked expectations that inflation will spike again, and comes as Washington prepares to release crucial consumer price data that could sway the Fed’s thinking on whether to raise rates next week.
With bets on a hike rising, stocks are in the firing line, with all three main indexes on Wall Street in the red and Europe also taking a hiding.
Most of Asia followed suit.
Seoul, Hong Kong, Sydney, Shanghai, Singapore, Taipei, Wellington, Bangkok, Jakarta and Manila were also well down.
However, Tokyo and Mumbai edged up. London and Frankfurt dipped while Paris rose.
