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
BNY’s Bob Savage reports that Brent and WTI surged around 4–5% as Iran–Israel missile exchanges raised fears of supply disruption and higher global inflation. Savage notes EU natural gas also climbed, while OPEC+ members agreed a modest 188,000 b/d production increase from July 2026 with flexibility to adjust. The balance between conflict risk and incremental supply will guide Oil pricing near term.
Middle East tensions drive crude higher
“WTI up 4.7% to $94.80, Brent up 4.7% to $97.50 – both reflect Iran/Israel missile exchanges and doubts about President Trump’s 60-day ceasefire negotiations.”
“EU natural gas also moved higher, up 5% to €51.2, the most in three weeks, linked to the same fears of ongoing supply disruption.”
“Draws could rise further to around 11 mb/d in June.”
“Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman said they will implement a combined oil production hike of 188,000 b/d in July 2026.”
“The group said the move reflects a cautious approach to supporting market stability amid evolving market conditions, while retaining full flexibility to increase, pause or reverse the phased withdrawal of cuts, including those announced in November 2023.”
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