Yahoo Finance
and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets A pause in the Iran conflict and a sizeable retreat in crude oil prices away from $100 per barrel offer some relief at the start of what's set to be another turbulent week for markets.
The calendar is certainly packed, with the Federal Reserve meeting on Wednesday, a third of the S&P 500 set to report earnings - includingApple, Amazon,Microsoft, Meta and Qualcomm - and second-quarter U.S.
But first, listen to the latest episode of the Morning Bid daily podcast, where we break down the week to come and oil's latest retreat.
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There's still at least a one-in-four chance of a Fed rate hike on Wednesday priced into futures, despite the latest retreat in oil prices.
The Bank of Japan and Bank of England are also set to meet this week, with the former eyeing fresh yen weakness and the latter meeting just as a new UK prime minister takes office.
But oil prices set the tone first thing this week.
Brent crude began falling from the triple-digit level on Friday, and the U.S.
then said it was pausing strikes on Iran after 13 straight days of attacks.
Iran indicated it would reciprocate and we now have to wait to see if some mediation resumes.
side running low on munitions, but many in the market will now assume that $100 oil is a pinch point that focuses minds - at least in Washington.
Brent fell further to around $89/bbl early on Monday.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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