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Thu. Oct 17th, 2024
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Here’s How She Learned to Silence ItCommon Mistakes When Applying for the Diversity Immigrant Visa ProgramNew Zealand Inflation Slows to Lowest Rate Since Early 2021Fed’s Bostic says his ‘dot’ was for 25 bp more in cuts in 2024Trump’s trade rhetoric may not be all bluster. He needs mammoth tariffs to pay for everything else he wants.Trump Says Growth to Outpace Feared Debt, Inflation From AgendaHow Prioritizing Heart Health Could Lower Your Dementia Risk Later In LifeDow Jones Today: Major Indexes Slide as Nvidia Leads Chip Stock SelloffDepartment of Defense Issues Final CMMC RuleGoldman profits surge 45% as dealmaking stages comebackTreasuries Rise Most In Two Weeks as Oil Eases Inflation FearsThe US retirement system gets a C+ in global studyTech Stocks Rally While Oil, Energy Shares Drop: Markets WrapThe Evolution of AI in Healthcare: Current Trends and Legal ConsiderationsOil Extends Losses on Report Israel Won’t Target Iranian CrudeFed’s Kashkari Says Private Credit May Lessen Systemic RiskCould COVID-19 Raise Your Risk of Heart Attack and Stroke? Study Offers CluesBreakfast Foods Affect Weight Loss, Metabolism Differently for Men vs WomenTrump wants to pin inflation on Harris. Most economists say prices will rise faster under himNvidia stock eyes record high, looks to unseat Apple as world’s most valuable companyDow Jones Today: Stocks Rise as Nvidia Leads Large-Cap Tech Higher; S&P 500, Dow at New HighsUSCIS Issues Updated Guidance on ‘Sought to Acquire’ Requirement of Child Status Protection ActOPEC cuts 2024, 2025 global oil demand growth view againBrazil Analysts Lift Interest Rate Forecasts as Inflation Picks UpChinese Stocks Gain in Volatile Trade, Oil Falls: Markets WrapFed rate cuts were supposed to help ease U.S. debt costs, but it’s not looking good so farVolatile Bond Market Puts Traders on Defense Amid Fed-Cut DoubtsIs It the End of the False Claims Act As We Know It? 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Here’s where Wall Street thinks stocks go next.Boeing stock slides as company plans to cut 17,000 jobs, delays jet delivery amid labor strikeUS Expands Sanctions on Iran Oil Sector Over Israel AttackTrump Adviser Bessent Slams Fed Over September Half-Point CutRytr or Wrong: Is the FTC’s Operation AI Comply a Prudent Defense Against Deception or an Assault on Innovation and Constitutional Free Speech?Bond Traders’ Big Week Ends With Fed Rate Cuts Even Less CertainHurricane Milton deals estimated $160B blow in damage, economic lossDow Jones Today: Stocks Surge on Strong Bank Earnings, Benign Inflation Data; S&P 500, Dow Hit Record HighsWholesale inflation remained cool last month in latest sign that price pressures are slowingTraders keep bets on 25 bps Fed rate cuts in Nov, DecHow Olympian Caeleb Dressel’s Cat Rems and Dog Jane Help Him Through ‘Rough Days’Oil retreats but heads for weekly climb on potential Mideast supply disruptionSouth Korea’s central bank cuts rates in a bid to boost the economyAPPARENTLY NOT AN INDEPENDENT CONTRACTOR: Summary Judgment Denied Because Third Party Vendor May Have Had Apparent Authority To Make Calls Without ConsentFeds slap TD Bank with $3.1 billion in fines for money laundering of fentanyl trafficking and terrorist financingOil Set for Weekly Gain as Israel Plans Response to Iran AttackEating Nothing But Sardines May Help You Lose Weight, But Experts Say It’s a Bad IdeaBank Earnings to Give Stock Market Key Read on Health of EconomyThree Fed Officials Shrug Off CPI Report, Bostic Open to PauseDow Jones Today: Stocks Move Lower After Inflation and Jobs Data SurprisesRecent Scrutiny of English-Only Workplace Rules Comes into Focus During National Hispanic Heritage MonthFed seen delivering 25 bps cut next month after inflation dataInflation: Consumer price increases in September come in slightly hotter than estimatesOil Gains as Traders Monitor Middle East While Stockpiles ClimbChinese Stocks Rally; Markets Await US Inflation: Markets Wrap22 States Join Challenge to Massachusetts’ Question 3Oil Steadies as Stockpiles Rise and Traders Monitor Middle EastGold Holds Drop Before Inflation Data as Traders Weigh Rate PathHow McDonald’s New Chicken Big Mac Compares to the Original: Calories, Ingredients, and MoreVitamin D Supplements May Help Lower Blood Pressure and CholesterolFed Minutes Show Robust Debate About Size of September Rate CutTreasury Yields Rise as Fed Rate-Cut Hopes Fade Before CPIMost Millennials, GenZers Get Health Information From Social Media, Survey RevealsHarris vs. Trump: A Side-by-Side Comparison on 7 Key Health IssuesDow Jones Today: S&P 500 Rises to Record High as Stock Market Extends RallySEC Brings Multiple Enforcement Actions Relating to Beneficial Ownership and Other Reporting ObligationsRBC BlueBay sees risk of Trump, Harris policies fueling Fed hikeGermany’s economy is on track to shrink for a second straight yearOil prices steady after sliding on potential Israel-Hezbollah ceasefireGeopolitical risk premium in oil market slips slightly, Goldman Sachs saysCertain Arm Positions During Blood Pressure Checks May Lead to Inaccurate ResultsFed Vice Chair Jefferson: rate cut aimed at keeping US job market strongFed Vice Chair Jefferson: Sept rate cut was ‘timely’
Thu. Oct 17th, 2024

Oil Steadies as Traders Assess Shifting Risks in Mideast Crisis

(Bloomberg) — Oil steadied after Israel’s killing of Hezbollah’s leader, Hassan Nasrallah, with the market waiting to see how Iran will respond.

Most Read from Bloomberg

Global benchmark Brent traded near $72 a barrel, while West Texas Intermediate was above $68. Nasrallah was killed in an air strike on Lebanon’s capital Beirut, dealing a major blow to the group and its sponsor Tehran. Israeli jets also bombed targets in Yemen following attacks this month on central Israel by Iran-backed Houthi rebels.

Iran appears to be in no rush to escalate the conflict with Israel, which has unfolded against the backdrop of the war in Gaza between the Jewish state and Hamas, which is also sponsored by Tehran. President Masoud Pezeshkian stopped short of pledging a direct attack on Israel and struck a relatively restrained note in a speech at the United Nations.

Crude remains modestly lower this year as the heightened tensions in the Middle East have so far failed to escalate into an all-out confrontation that could threaten oil supplies from the region. At the same time, global production remains ample, with OPEC+ considering whether to loosen output curbs, while China’s slowdown has hurt demand.

The recent weakness in prices “reflects that the geopolitical risk premium remains limited, and market expectations of potentially higher oil supply,” Goldman Sachs Group Inc. analysts including Daan Struyven said in a note released over the weekend. The bank kept its forecast for Brent to end the year at $74 a barrel.

The latest shift in the course of the Middle East conflict spurred heavier-than-usual trading. More than 18,000 contracts across the Brent futures curve changed hands within the trading day’s first two hours.

To get Bloomberg’s Energy Daily newsletter into your inbox, click here.

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©2024 Bloomberg L.P.

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