Brent Crude Exceeds $100 as Geopolitical Tensions Rise and China Halts Fuel Exports

Brent crude oil surpassed $100 a barrel on October 1, driven by reports of a third US aircraft carrier deployment to the Middle East and China's PetroChina canceling all October fuel exports. This dual development creates stress in international seaborne supply, threatening to increase costs for freight-dependent goods globally.