Brent crude hits highest price since May | ABC NEWS
Brent crude has jumped 7.5 per cent as conflict in the Middle East fuels fears of further supply disruptions.
The jump in Brent crude to more than US$109 lifted US yields to multi-year highs and Wall Street fell.
It comes as the US struck five Iranian oil tankers, while the Houthis seized control of a key shipping port on the Red Sea. There are growing fears the conflict will have an impact on interest rates and inflation in Australia.
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