Middle East Tensions Fuel Oil Price Surge

Oil prices surged higher in early morning trading after a heavy sell-off over the last three days, with Brent up more than 4% at the time of writing.

The renewed tensions in the Middle East have led to increased concerns about supply disruptions and higher prices.

European natural gas prices also bounced higher this morning following the heightened regional tensions.

However, gold prices came under pressure ahead of today's Federal Reserve policy meeting, with investors taking a cautious stance.

Arabica coffee continued its rally, settling more than 4.5% higher due to declining exchange inventories and near-term supply concerns.