BoE seen holding rates as energy shock fuels November hike bets
BoE expected to hold at 3.75% Thursday, but Iran-driven energy surge lifts market odds of a November hike to 80%.
BoE expected to hold at 3.75% Thursday, but Iran-driven energy surge lifts market odds of a November hike to 80%.
European markets steady before Fed decision, with oil and bond yields easing.
US officials held secret talks in Oman with Yemen's Houthis, who pledged not to attack American ships but exempted Saudi vessels.
The S&P 500 has reached a pain point with oil above $100, and a hawkish Fed could worsen losses.
Oil prices rose as Saudi Arabia cancelled crude cargoes after the East-West pipeline closure, with traders eyeing the FOMC decision.
European stocks opened higher on Wednesday as oil prices eased and bond yields retreated, providing a respite ahead of the Fed's rate decision.
Ten-year bond yields in the US, UK, Japan, Germany and France hit multi-decade highs as oil above $100 fuels inflation fears.
Asia-Pacific markets: Oil steady near highs, Japan data misses, crypto falls on US Senate vote.
Saudi-led coalition says it intercepted a Houthi drone near Mecca, calling the security of holy sites a red line and promising a response.
Vance said Iran conflict to enter new phase in months; his Hormuz traffic recovery claim disputed by independent trackers.
Shipping costs for US crude to Asia have surged to record levels amid Middle East supply disruptions. Asian refiners continue to buy US barrels despite higherβ¦
US stocks closed lower Monday as the 10-year yield topped 5% and crude oil jumped 4.4%, ahead of the Fed's rate decision.
Oil's 11-day rally pushes yields higher and stocks lower ahead of a likely Fed rate hike.
Iraqi militias attacked Saudi pipeline, exposing defense gaps. Repair timeline 3-6 weeks; further strikes could make it indefinite.
WTI crude rose $4.93 to $106.31, marking an 11th gain in 12 sessions amid a supply crunch and rising geopolitical tensions.