European shares open lower as oil gains, rate fears weigh on sentiment
European stocks edged lower at the open as rising oil prices and rate concerns offset tech-led gains in Asia.
European stocks edged lower at the open as rising oil prices and rate concerns offset tech-led gains in Asia.
Oil firmed after Hormuz attacks, gold slipped on strong jobs data, and Asian stocks were mixed as the Hang Seng fell while the Nikkei and Kospi gained.
Strait of Hormuz shipping traffic fell to its lowest since May, data show, despite US Navy claims of increased escorts.
Hedge funds raised oil bets to a three-month high as diesel and gasoline positions hit records, signaling persistent inflation risk.
OPEC+ held oil quotas steady for October as Hormuz disruption limits its market influence.
Iran plans to declare a restricted zone outside the Strait of Hormuz and warns of a faster, heavier and more painful response to any future attacks.
Iran warns of severe response; markets watch oil, gold and stocks over holiday.
The US jobs report beat expectations, the dollar initially jumped then fell back, and the yen showed signs of intervention.
Explosions reported over Al-Azraq and Muwaffaq al Salti air bases in Jordan, likely from intercepted Iranian missiles. US has not responded yet; WTI crude…
Crude oil futures rallied this week but slipped on the day, with key technical levels providing support and resistance.
Iran launched ballistic missiles, pushing WTI crude oil above $90 after a low of $79 on Aug 26.
US diesel hit a record $5.820/gallon amid low stockpiles. War-related fuel costs reached $97.5 billion.
Odds of a September Fed rate hike fell to 50/50 on Friday, reversing a 70% probability from a day earlier, as Bitcoin rallied near $82,000.
Oman has reportedly rejected Iran's plan to jointly charge fees on ships in the Strait of Hormuz, contradicting earlier claims by Iran's IRGC.
Citi revised its 3Q26 Brent forecast up to $86 per barrel, held 4Q26 at $70 and 2027 at $65, and adjusted gas forecasts.