Oil prices surge nearly 40% this month as Gulf conflict fuels inflation fears

Oil prices surged nearly 40% this month amid escalating conflict in the Gulf, reviving inflation fears, rattling bond markets and stoking rate hike expectations globally as Asian shares sank on Friday. European bourses, however, are headed for a steady open after losses a day earlier. Nasdaq futures slipped 0.3% as bumper results from Intel offered little support in the face of broader worries…