Global oil markets faced renewed uncertainty on Monday after deadly attacks on Saudi Arabia's main international airport, fresh tanker incidents near the Strait of Hormuz and overnight airstrikes in Yemen intensified concerns about Middle Eastern energy supplies. However, crude prices fluctuated as investors weighed the regional security risks against a separate US-Russia diesel supply agreement and President Donald Trump's announcement of a proposed Russia-Ukraine energy ceasefire. Deadly Attacks Raise Middle East Tensions Saudi Arabia's King Khalid International Airport in Riyadh suffered repeated attacks over the weekend, with a combined reported toll of 14 deaths and more than 320 injuries. Yemen's Iran-backed Houthi movement claimed responsibility for the attacks. The airport disruption also raised concerns about aviation safety and the possibility of further regional escalation. Separately, overnight airstrikes struck areas of Yemen's capital, Sanaa. Houthi-ru...
A week ago, markets were bracing for another Federal Reserve rate hike as soon as this month. Then Friday's jobs report landed the one we previewed as a potential market-mover and it missed expectations badly enough to flip the entire narrative. The probability of an October rate hike has collapsed from roughly 64% to about 23%, according to CME FedWatch data cited by multiple market outlets. The ripple effects are already visible from Tokyo to São Paulo. The Number That Changed Everything Friday's September jobs report came in well short of expectations, reigniting concerns about labor market softness rather than the inflation concerns that had been driving the Fed's hawkish tilt. Markets reacted immediately: Treasury yields, which had been climbing toward multi-decade highs for most of the month, eased overnight following the report. The 10-year yield, which touched 5.283% on Friday, was seeing overnight relief as trading opened this week. Metric Before Now ...