Oil prices fell on Tuesday (October 10), easing concerns about the impact on energy markets. Of the confrontations between Israel and Palestine Wall Street closed on a positive note for 3 days in a row, but investors are still monitoring the risks resulting from the war. At the same time, gold also rebounded.
The West Texas Intermediate crude oil contract, or light sweet scraps, for November deliveries fell 41 cents to $85.97 a barrel. Brent Sea side, north of London December deliveries fell 50 cents to $87.65 a barrel.
Previously, crude oil futures rose sharply on Monday (October 9) on concerns about geopolitical risks. In the wake of the military crisis between Israel and Palestine.
“Although Israel’s role in global oil supplies is limited, there is a risk that the conflict could escalate to a regional level,” commented Daniel Haynes, commodities strategist at Australia & New Zealand Banking Group.
Conflict in the Middle East prompted investors to hold low-risk assets and pushed the price of gold on Tuesday (October 10) to continue rising. The price of gold for December delivery on the COMEX exchange rose $11.00 to close at $1,875.30 per ounce.
The US stock market closed on a positive note for three straight days on Tuesday (October 10) after US government bond yields weakened from recent highs as investors monitor various risks. From the war between Israel and Hamas
The Dow Jones index rose 134.65 points (0.40 percent) to 33,739.30 points, the Standard & Poor’s index rose 22.58 points (0.52 percent) to 4,358.24 points, and the Nasdaq index rose 78.60 points (0.58 percent) to 13,562.84 points.
The 10-year US Treasury bond is the reference rate for mortgage interest rates. Further cuts after US Federal Reserve officials indicated they may have finished raising interest rates,
High interest rates for a prolonged period may mean something else: there is “less need” to raise interest rates again. According to Lori Logan, President of the Federal Reserve Bank of Dallas, said on Monday (October 9)
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