S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
According to UOB strategists Oil prices extended gains, with Brent crude settling above $96 and posting a strong weekly rise as disruptions to Middle East supply routes and renewed geopolitical tensions supported energy markets. Brent and WTI futures advanced further, with weekly gains approaching 8% and 10% respectively, while markets watch developments in the Strait of Hormuz.
Brent and WTI log strong week
“Oil prices also advanced, with Brent crude settling above US$96/bbl and notching a strong weekly gain, as ongoing disruptions to Middle East supply routes and renewed geopolitical tensions continued to support energy prices.”
“Oil prices gained more than 7% for the week after the US and Iran resumed military exchanges in the seventh month of their conflict, while US diesel prices hit a record high.”
“Brent crude futures gained 76 cents to close at $96.28/bbl, and West Texas Intermediate crude futures advanced 18 cents to settle at $91.48/bbl.”
“Brent was up nearly 8% for the week and WTI gained almost 10%.”
“Financial markets will be keeping a close watch on developments in the Middle East and the Strait of Hormuz, with any signs of further disruption to energy supplies likely to influence risk sentiment and oil prices.”
