24/10/2026
Weekly Digest: Oil goes through the roof as gold trims losses
đąïž Oil nears $115. Brent was trading at near $115 a barrel on Friday morning, following two deadly attacks in Saudi Arabia this week. Growing concerns that an escalation in hostilities could impact supply are keeping prices elevated, despite shipments from the Middle East nearing pre-war levels. (Bloomberg)
đȘ Gold pares losses. After touching its lowest levels since July on Thursday, gold eased to $4,024/oz first thing Friday amid high oil prices and higher-for-longer interest rate expectations.
đ Nasdaq slides. Nasdaq 100 futures fell 1.8% on Thursday after Meta and Tesla released results, backtracking on the 2.2% gains earlier in the week. Meta climbed after exceeding revenue estimates and raising spending plans, while Tesla fell as it announced a spending cutback. (Bloomberg)
đ UK inflation rises. UK inflation rose to 3.5% in September â higher than economistsâ predicted 3.4%, as the ongoing war in Iran pushed up energy prices. Markets now look near-certain of a 25-basis-point Bank of England rate hike next month. (Reuters)
đ¶ French yields hit 24-year high. French yields hit 5% for the first time since 2002 this week. The gap between French and German yields â a key indicator of euro-area credit risk â also grew, amid widespread cost-of-living protests, rising energy prices and an underperforming euro. (Bloomberg)
đ± Yen rallies. The yen was heading for its strongest daily rally in a month on Thursday, as the dollar fell 0.6% to 157.27 yen. This as investors opt for the yen as a safe-haven amid unsettled markets, high oil prices, conflict in the Middle East and uncertainty over AI returns. (Reuters)
đ« US withdraws diplomats. The US has ordered its diplomats in Saudi Arabia to withdraw amid continuing strikes by Iranian-supported Houthis. At least one person was killed and eight injured in an attack at an airport in Dammam, while two people were killed in a drone strike on an oil field. (Reuters)
đïž Russia ready to talk? President Vladimir Putin has said Russia is willing to return to peace negotiations with the US and Ukraine, following talks with President Trumpâs envoy, Steve Witkoff. A Kremlin official said the key issue was âthe establishment of a security system for Russia and Ukraine after the end of the conflictâ. (Bloomberg)