Oil prices top $100 again as 7-month Iran war continues
Brent rose 2.1% to $100.10 a barrel as investors weighed supply risks and rising Treasury yields.
- Brent crude oil prices topped $100 a barrel again, rising 2.1% to $100.10 as markets remain volatile amid uncertainty about when the conflict with Iran will allow crude flows to fully restore.
- President Donald Trump rejected a proposal from Tehran to reopen the Strait of Hormuz, stalling efforts to restore crude flows seven months into the war. Tankers remain cowering in the waterway.
- The 10-year U.S. Treasury yield hit 5.3% on Oct. 1, while the 30-year U.S. Treasury yield reached 5.65%, both levels unseen since 2002. Longer-term yields are rising amid concerns over government debt loads worldwide.
- Shares of Alphabet climbed more than 2% after Google unveiled its latest artificial intelligence model, Gemini 4 Argon. Conversely, Britain's FTSE 100 dropped 1.3%, while France's CAC 40 and the German DAX also declined.
- Madison Square Garden Sports Corp. will spin off its New York Rangers business from the New York Knicks, with the transaction expected to complete on Oct. 26. The separation divides the company's two major professional sports franchises.
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At 1035 GMT, Brent lost $2.57, or 2.51%, to $99.74 per barrel.
The Brent drops to $99.2 per barrel, recording a drop of 3%. The Wti loses 4% and drops below $90 per barrel to $89 per barrel. (ANSA)
An export stop from Chinese refineries drives oil prices. Investors are increasingly fleeing into fixed-interest securities, which appear more attractive due to high interest rates. IT consulting company Accenture, however, is creating a mood of optimism in the tech industry.
Brent crude, which serves as a reference in Argentina, increases by 2.5% this Thursday.While the WTI Texano closed September with a rise of around 5%, driven by the war in the Middle East.What does a report say about the Asian giant that put more pressure on the energy market?
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