Brent and WTI both break above $100—will global inflation have to “attend class” again?

With crude oil climbing above $100, the market may first think of energy stocks, but inflation is what truly deserves attention. Oil is not an isolated commodity; it permeates nearly every corner of the modern economy: transportation needs oil, production needs energy, the chemical industry needs feedstock, and even the logistics cost of a cup of coffee is related to oil prices.
Therefore, after Brent and WTI climb above $100, the market’s concern is not simply that gas station prices will become a little more expensive, but that high oil prices could once again alter the trajectory of global inflation. If energy prices continue to rise, core inflation may not immediately move in tandem, but corporate costs and household consumption expectations will both be affected.
This puts central banks in a particularly awkward position. When economic growth is weak, central banks would normally hope to provide support through accommodative policies; but a sudden surge in oil prices could force policymakers to reassess inflation risks. As a result, the market may see a very familiar combination: rising bond yields, declining expectations for interest-rate cuts, and heightened volatility in risk assets.
Of course, oil breaking above $100 is not entirely bad news. Energy companies’ profitability could improve significantly, oil-producing countries could see increased fiscal revenue, and related industrial chains could also find opportunities.
The question is whether the oil price spike is merely short-lived, which the market can fully absorb, or whether prices remain elevated for the long term—that would be a different matter. The truly frightening thing about $100 is not the number itself, but that it could once again become the “anchor” of global inflation.#Gate广场中秋团圆局 + ​#布伦特和WTI站上100美元