Oil eases and stocks rise after Trump rules out striking Iran before the midterms
Brent fell about 1.2% to around $103 a barrel on Friday after President Trump said the US would not attack Iran before next month's midterm elections; European shares and US futures rose.
Oil prices retreated on Friday, 9 October, after US President Donald Trump said the United States would not attack Iran before the midterm elections next month, easing fears of further disruption to Middle East energy supplies, Reuters and AFP reported.
The numbers
- Brent crude was down about 1.2%, at roughly $103 a barrel, still above the $100 mark; it had rallied more than 5% on Thursday, according to AFP.
- US WTI crude slipped about 0.7%, to around $91.
- In Europe, the FTSE 100 rose about 0.7%, the DAX 0.9% and the CAC 40 0.5% (AFP figures).
- US stock index futures edged higher; Nasdaq 100 futures were up about 0.8% early on Friday, Reuters said.
Still fragile
Earlier, Asian markets were weak and heading for a second weekly loss, Reuters reported, as investors worried about high energy prices, a months-long global bond sell-off and the cost of AI investment. The US 10-year Treasury yield held near 5.23%, close to the 24-year high touched on Wednesday.
Analysts warned the respite could be short-lived. Wealth Club’s Susannah Streeter noted that the trajectory of the Middle East crisis “remains highly uncertain”.
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