Markets in the Middle East and Asia Pacific (Apac) are on watch as the price of a barrel of crude oil and West Texas Intermediate (WTI) oil has surged above $100 which is set to put pressure on inflation and slowdown the global economy. WTI has jumped 18% to above $108 a barrel, while Brent has added 16% to $107. US oil prices began the year below $60 a barrel.
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