Fears grow inflation could rekindle as oil prices close in on $100 a barrel

Brent crude oil prices have surged to their highest level in almost a year, stoking fears that inflation may return as energy costs go up again for consumers and business

Oil prices are closing in on $100 a barrel

Oil surged to a 10-month high — extending a powerful rally that may rekindle inflation — as supply cuts from Opec+ tightened the market, with Saudi Arabia’s energy minister shying away from any change in course.

Global benchmark Brent topped $95 a barrel for the first time since November, advancing for a fourth day after Saudi Arabia and Russia curtailed production. The tighter market has ignited a flurry of predictions that $100 oil could soon ...