Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil prices soared Friday as escalating military tensions between Israel and Iran sparked fears of supply disruptions from the Middle East. Brent crude surged 7.02% to settle at $74.23 per barrel, after briefly hitting $78.50—its highest since January 27. U.S. West Texas Intermediate (WTI) crude climbed 7.62% to $72.98, peaking intraday at $77.62. Both benchmarks posted their largest one-day gains since Russia invaded Ukraine in 2022.
The spike follows Israel’s announcement of strikes on Iran’s nuclear sites and missile facilities in a bid to halt Tehran’s atomic ambitions. Iran vowed retaliation and later fired missiles into Tel Aviv, according to reports. The clashes have intensified investor concerns over oil flows through the Strait of Hormuz, a strategic waterway through which nearly 20 million barrels of oil and fuel—about one-fifth of global consumption—pass daily.
Analysts warned that any further escalation targeting energy infrastructure could trigger a tit-for-tat cycle. Iran’s Kharg Island, the hub for 90% of its crude exports, remains untouched, but experts caution this may change. Iran produces about 3.3 million barrels per day, exporting over 2 million. OPEC’s spare capacity is estimated to match Iran’s output, offering some buffer against potential supply shocks.
Despite the unrest, Iranian oil refining and storage facilities remain operational, according to state officials. Meanwhile, the number of active U.S. oil rigs fell to 439—the lowest since October 2021—continuing a seven-week decline, as per Baker Hughes data.
Market reactions extended beyond oil. Equities fell, while gold, the U.S. dollar, and the Swiss franc gained on safe-haven demand. Hedge funds also increased long positions in U.S. crude, CFTC data showed, signaling bullish sentiment amid geopolitical uncertainty.
