- Trump 'resorted to crimes' to overturn 2020 election: special counsel
- Tigers and Royals complete sweeps to advance in MLB playoffs
- Australia's most capped footballer Polkinghorne to retire
- Emery masterminds 'statement' Champions League win for Aston Villa
- Ancelotti holds hands up as Real Madrid's long unbeaten run ends
- Juventus played like a team 'possessed', says Vlahovic
- US urgently tries to shape Israel's response to Iran
- Tigers sweep Astros to advance in MLB playoffs
- Dodgers say pitching icon Valenzuela 'focusing on health'
- Conceicao stunner nets 10-man Juventus win at Leipzig
- Aston Villa stun Bayern in repeat of 1982 European Cup final
- Rampant Benfica smash Simeone's absent Atletico
- David strikes as Lille claim Real Madrid scalp in Champions League
- Slot makes Liverpool history as Reds beat Bologna
- Biden, Harris tour areas slammed by major storm
- Doctor who provided Matthew Perry's drugs pleads guilty
- South America treated to rare 'ring of fire' eclipse
- Calf injury slows Doncic as Mavs launch training camp
- Biden official says port strike deal not as far as parties think
- Knicks get Towns from T-wolves for Randle in major NBA deal
- Leicester coach Cheika handed ban for 'disrespecting' doctor
- Jewish pilgrims journey to Ukraine, from one war to another
- Mexico's new president offers apology for 1968 student massacre
- Man Utd start no cause to 'panic' says under-fire Ten Hag
- Historic funding round values OpenAI at $157 billion
- More own goal agony as Girona tumble against Feyenoord
- South Africa trounce Ireland by 139 runs in first ODI
- Biden, Harris travel to areas slammed by 'historic' Hurricane Helene
- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Spurs star Maddison eyes return to England squad
- French luxury goods giant LVMH in F1 sponsorship deal
- Juve's injury-hit Milik undergoes more knee surgery
- Pochettino gives chance to USA squad to prove their worth
- NBA legend Jordan files anti-trust lawsuit against NASCAR
- Bridgestone latest Japanese firm to end Olympics sponsorship
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
- McIlroy hopeful golf's civil war will be over by end of 2024
- Buttler returns as England captain for West Indies tour
- Macron backs Chinese EV tariffs as Scholz calls for dialogue
- Study reveals long-term death toll of cyclones as world battered
- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Russia opens 'extremist' trial of four independent journalists
- Alcaraz 'got the joy back' after dramatic Beijing title win
- How will Israel react to Iranian missile attack?
- British jets 'played their part' in defending Israel: UK
- Carter beloved in hometown, but many voting for Trump
- Facing backlash, EU moves to delay deforestation rules
- US private sector adds more jobs than expected in September: ADP
- Israel, Hezbollah in deadly fighting on Lebanon border
RBGPF | -2.18% | 59.5 | $ | |
BCC | -1.33% | 139.53 | $ | |
SCS | -2.56% | 12.87 | $ | |
CMSD | -0.04% | 24.93 | $ | |
NGG | -1.85% | 68.78 | $ | |
CMSC | 0.04% | 24.78 | $ | |
BCE | -1.13% | 34.44 | $ | |
JRI | -1.12% | 13.38 | $ | |
RIO | -0.48% | 70.82 | $ | |
GSK | -2.15% | 39.45 | $ | |
RELX | -0.11% | 47.29 | $ | |
RYCEF | -0.43% | 6.9 | $ | |
BTI | -1.33% | 35.97 | $ | |
BP | 0.86% | 32.37 | $ | |
VOD | -2.16% | 9.74 | $ | |
AZN | 1.14% | 79.58 | $ |
Rally in oil prices loses steam on mixed day for global stocks
A rally in oil prices faded Wednesday as worries over Middle Eastern tensions appeared to recede somewhat while US stock indices eked out gains following solid US jobs data.
Brent crude, the international benchmark, briefly topped $75 per barrel while West Texas Intermediate was above $72, with both more than three percent higher.
The surge extended Tuesday's upward move after Iran launched its second ever direct attack on Israel on Tuesday, firing what it said were 200 missiles in retaliation for the killings of Tehran-backed militants.
But the surge in crude prices ran out of steam, with Brent finishing 0.5 percent higher.
"Israel said it would retaliate against Iran, but the market wasn't bothered by this today," Briefing.com said.
Oil prices faltered after US oil stockpile data pointed to a surprisingly large crude inventory build. The data also showed a drop in refined product deliveries, indicating tepid demand.
Crude prices were also buffeted by a Wall Street Journal report that Saudi oil minister Prince Abdulaziz bin Salman has warned oil prices could fall as low as $50 a barrel if other OPEC+ members continue to over-produce.
OPEC denied the report, which implied a Saudi-initiated price war, posting on X (formerly Twitter) that the claims are "utterly unfounded."
Back in New York, both the Dow and Nasdaq finished with modest gains following a choppy session.
US private sector hiring picked up in September, with employers adding more jobs than anticipated, according to data released by payroll firm ADP.
Markets also kept an eye on the Middle East a day after Iran launched its missile attack on Israel. UN chief Antonio Guterres called for an end to the "sickening cycle of escalation."
Despite headwinds that also include a US dockworkers strike, "it is reassuring that the global equity markets did not experience a panic attack," said CFRA Research's Sam Stovall.
Elsewhere, Hong Kong's stock market surged more than six percent by the close, continuing a sharp rally after China last week unveiled a raft of measures to boost its economy, particularly the troubled property sector.
Markets were closed in Shanghai and Shenzhen for a week-long holiday, having also zoomed higher before the break. Tokyo fell more than two percent.
Among individual companies, Nike slid 6.8 percent after the sports giant reported lower profits and revenues, signaling it would take time to engineer a company turnaround.
Tesla dropped 3.5 percent after reporting third-quarter auto deliveries that were roughly in line. A Wedbush note pointed to disappointment that the figures were not more impressive after a rough first half of 2024.
- Key figures around 2030 GMT -
New York - Dow: UP 0.1 percent at 42,196.52 (close)
New York - S&P 500: FLAT at 5,709.54 (close)
New York - Nasdaq: UP 0.1 percent at 17,925.12 (close)
London - FTSE 100: UP 0.2 percent at 8,290.86 (close)
Paris - CAC 40: UP 0.1 percent at 7,577.59 (close)
Frankfurt - DAX: DOWN 0.3 percent at 19,164.75 (close)
Hong Kong - Hang Seng Index: UP 6.2 percent at 22,443.73 (close)
Tokyo - Nikkei 225: DOWN 2.2 percent at 37,808.76 (close)
Shanghai - Composite: Closed for a holiday
Euro/dollar: DOWN at $1.1048 from $1.1068 on Tuesday
Pound/dollar: DOWN at $1.3266 from $1.3286
Dollar/yen: UP at 146.38 yen from 143.57 yen
Euro/pound: DOWN at 83.26 pence from 83.31 pence
Brent North Sea Crude: UP 0.5 percent at $73.90 per barrel
West Texas Intermediate: UP 0.4 percent at $70.10 per barrel
J.V.Jacinto--PC