US says itโs clearing Hormuz traffic: Why are oil futures beyond $100?
Brent crude crosses $107 as Hormuz disruptions and Saudi pipeline shutdown threaten global oil supply.
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Brent crude crosses $107 as Hormuz disruptions and Saudi pipeline shutdown threaten global oil supply.
US equity futures waver ahead of PPI data, Oracle earnings and a rate decision from the European Central Bank. Brent crude reaches $102 a barrel as Iran is said to be ready to intensify its counterattacks if the US continues its strikes. President Trump pledges a $5,000 payout to voters if the Republican party wins the midterm elections. The president is set to speak again at the Republican National Convention in Dallas today. Jack Caffrey of JPMorgan Asset Management joins "Bloomberg Brief" to recap this earnings season. This video has been edited to correct a graphic to note that ECB President Christine Lagarde is scheduled to speak. Lagarde's name was misspelled at 00;41;26;29 (Source: Bloomberg)
Asian chip stocks were set for a higher open on sustained investor interest in the artificial intelligence theme, while the broader market was expected to come under pressure from escalating Middle East hostilities that sent Brent crude close to $100 a barrel.