Global Shares Edge Up as Oil Drops 2% to $114.6 on Qatar-Tehran De-escalation Reports
Updated
Updated · Reuters · Oct 26
Global Shares Edge Up as Oil Drops 2% to $114.6 on Qatar-Tehran De-escalation Reports
3 articles · Updated · Reuters · Oct 26
Summary
MSCI's All-World index and Europe's STOXX 600 rose Monday, while S&P 500 and Nasdaq futures added 0.3% as oil retreated from six-month highs.
Brent fell about 2% to $114.6 after reports Qatari mediators were in Tehran on Sunday, coordinating with the U.S. to ease regional tensions.
Markets stayed cautious because the relief in oil comes ahead of five major central bank meetings, with traders still pricing an 80% chance of a Fed rate hike in December.
Alphabet, Microsoft and Amazon earnings this week are set to test confidence in the AI trade, while U.S. core inflation is expected at 3.1% and growth at a 3.2% annualized pace.
The backdrop remains fragile after Brent surged 6.2% last week on Houthi attacks tied to Saudi energy infrastructure concerns, keeping energy-driven inflation risks in focus.