Oil on track for record monthly surge as Gulf turmoil rattles markets

Brent crude rose about 2% and was set for a record monthly gain as Gulf tensions threaten supply through the Strait of Hormuz, with U.S. crude near $101 a barrel; global stocks wobbled with Asia slipping while Europe and U.S. futures edged higher. Inflation concerns and upcoming data kept investors wary, and gold rose as a safe haven, with analysts warning that a prolonged closure of the Strait could push oil higher toward fresh highs.