Brent Crude Reaches $101 Per Barrel

The US equities ended Wednesday in the red, pressured by rising Treasury yields and escalating geopolitical risks. By the end of the session, the Dow Jones (US30) fell 0.77%, the S&P 500 (US500) declined 0.48%, and the Nasdaq (US100) closed 0.29% lower. The ongoing oil rally is amplifying inflation fears ahead of the September Federal Reserve meeting. Additional strain on the bond market came from the US Treasury’s decision to triple the size of its long‑term bond buyback program – a move that disappointed investors who had expected more aggressive intervention. Higher borrowing costs are hitting capital‑intensive projects particularly hard, especially in the artificial‑intelligence sector and data‑center construction.

Mexico’s temporary inflation uptick to 3.26% in August ends a three‑month streak of continuous disinflation, though the figure remains within Banxico’s target range of 3% (±1%). With the policy rate held at 6.50%, markets are watching how domestic food‑price dynamics and imported cost pressures will influence future decisions amid global macro volatility.

In Europe, Wednesday’s session saw sharp declines: Germany’s DAX (DE40) fell 1.66%, France’s CAC 40 (FR40) dropped 1.94%, Spain’s IBEX 35 (ES35) declined 1.51%, and the UK’s FTSE 100 (UK100) closed 1.31% lower. The yield on benchmark 10‑year German Bunds surged above 3.4%, reaching its highest level since April 2011. Eurozone bond markets are under intense pressure ahead of the ECB Governing Council’s key meeting. Investors are pricing in two rate hikes from the ECB this year, with futures projecting the deposit rate could reach 3.1% by late 2027.

Escalation of military conflict in the Middle East has triggered a sharp breakout across commodity markets. On Wednesday, Brent crude surpassed $101 per barrel for the first time since May, reacting to direct armed confrontation between the US and Iran in the Persian Gulf and the Strait of Hormuz. The destruction of five Iranian tankers by US forces – in response to missile attacks on an American warship – prompted retaliatory strikes from Tehran. Claims of attacks on two US vessels and eight oil tankers, along with warnings to crews near Kuwaiti and Bahraini ports, have paralyzed regional shipping. Additional pressure came from a strike by Iran‑backed Houthi forces on Saudi Arabia’s Jazan refinery (400,000 bpd capacity). With traditional logistics routes disrupted, China has stepped up purchases of crude from Africa, Canada, and Latin America to replenish dwindling domestic reserves, further heating up the spot market.

Platinum prices (XPT) consolidated above $1860/oz, returning to multi‑month highs amid a localized supply shortage and expectations of a 9% surge in industrial demand this year (driven primarily by the glass industry). Reduced output in South Africa and a weaker US dollar have delivered roughly 6% monthly gains, though prices remain far below the January all‑time high of $2919. The World Platinum Investment Council (WPIC) revised its outlook, now predicting a global surplus of 265,000 oz for the year (previously a deficit of 297,000 oz).

In Asia, Japan’s Nikkei 225 (JP225) fell 0.19%, China’s FTSE China 50 rose 0.33%, Hong Kong’s Hang Seng (HK50) declined 0.17%, and Australia’s ASX 200 (AU200) closed 0.11% lower.

The Australian dollar (AUD) remains near 0.72 USD. Deputy Governor Andrew Hauser’s comments on the inevitability of further tightening reinforced market expectations. Investors now assign a 77% probability to a rate hike at the 29 September meeting, while futures price the peak rate at 4.85% next year.

The New Zealand dollar (NZD) trades near a six‑week low reached in the previous session, amid a dovish shift from the Reserve Bank of New Zealand. After the recent rate increase to 2.75%, markets expect a pause in October (probability ~80%), while a December hike remains part of the base case.

• S&P 500 (US500) 7,636.36 -37.16 (-0.48%)

• Dow Jones (US30) 52,380.66 -405.41 (-0.77%)

• DAX (DE40) 25,576.45 -431.18 (-1.66%)

• FTSE 100 (UK100) 10,670.06 -141.60 (-1.31%)

• USD Index 98.85 +0.06 (+0.06%)

News feed for: 2026.09.10

• German Inflation Rate (m/m) at 09:00 (GMT+3) – EUR (MED)

• Norway Inflation Rate (m/m) at 09:00 (GMT+3) – NOK (MED)

• Eurozone ECB Monetary Policy Statement at 15:15 (GMT+3) – EUR, DE40 (HIGH)

• Eurozone ECB Interest Rate Decision at 15:15 (GMT+3) – EUR, DE40 (HIGH)

• US Producer Price Index (m/m) at 15:30 (GMT+3) – USD (HIGH)

• US Initial Jobless Claims (w/w) at 15:30 (GMT+3) – USD (MED)

• Eurozone ECB Press Conference at 15:45 (GMT+3) – EUR, DE40 (MED)

• US Existing Home Sales (m/m) at 17:00 (GMT+3) – USD (MED)

• US Natural Gas Storage (w/w) at 17:30 (GMT+3) – XNG (HIGH)

• US Crude Oil Reserves (w/w) at 19:00 (GMT+3) – WTI (HIGH)