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...
Wednesday's inflation data came in lighter than expected normally the kind of news that eases pressure on bond yields. Instead, the 30-year Treasury yield pushed to its highest level in 24 years this week, according to Schwab's market commentary. Today's September jobs report, due at 8:30 a.m. ET, is the data point traders are waiting on to decide what happens next. What Happened With Inflation Instead, the 30-year Treasury yield pushed to its [highest level in 24 years this week] According to Schwab, August's Personal Consumption Expenditures (PCE) Price Index the Fed's preferred inflation gauge came in lighter than expected. Kiplinger's coverage described the broader tone around this week's data as dovish, and noted that rate hike odds for October fell meaningfully following the PCE release combined with cautious commentary from Fed officials and softer economic data. That's normally bond-friendly news. Lighter inflation plus lower rate hike odds...