S&P 500 — US Large Cap Index
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Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
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Hang Seng — Hong Kong Index
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TSX Composite — Canada Index
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STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Brent crude fell below $88 a barrel on Thursday, ending a six-session rally as investors shifted their focus toward weakening demand prospects and continued disruption around the Strait of Hormuz. The International Energy Agency lowered its global oil demand outlook, warning that the prolonged Middle East conflict and higher prices are increasingly weighing on consumption. The agency estimates the global oil market could face a supply shortfall of 1.8 million barrels a day this quarter, more than twice its previous forecast, while supply remained 6.3 million barrels a day below year-earlier levels in July. Meanwhile, US crude inventories surged by 17.4 million barrels last week, their largest weekly increase since January 2023. Diplomatic efforts between the US and Iran to end the conflict and reopen Hormuz have made little progress, with attacks on shipping continuing and rhetoric intensifying. Despite Thursday’s decline, Brent remained nearly 5% higher for the week.
