Oil Surge Triggers Global Market Rout as Singapore Weighs Pay Hike

Brent crude is set for its first weekly close above US$100 a barrel since May, with Middle East conflict and fears of a US Federal Reserve rate hike driving a sharp global sell-off. The MSCI Asia Pacific Index fell 1.8% on Thursday, led by declines in Japan and South Korea, as investors dumped risk assets and bonds.

Watch List

• Strait of Hormuz Tensions: Reports of a potential temporary deal to manage shipping could cap further oil price spikes, but...