Oil Prices Surge Over 3%, Brent Breaks $101

The move above $101 for Brent is a clear signal that supply-side anxiety is now the dominant driver in crude markets, with the price action suggesting traders are pricing in a persistent risk premium rather than a transient spike. This affects a broad swath of the economy through energy costs, but for RWA markets specifically, it puts a spotlight on commodity-linked assets and inflation-sensitive collateral. The key question is whether this level holds or if profit-taking and demand destruction fears cap the upside, which would determine if the surge is a brief overshoot or the start of a sustained repricing.