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Commodities

Oil Prices Surge, Global Markets Tumble Amid Middle East Tensions

Guavy AI Editorial Team
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Oil
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Global markets experienced a downturn on Thursday evening as oil prices surged due to ongoing tensions in the Middle East. The Brent crude price jumped back above $100 per barrel after US and Iranian leaders traded barbs at the UN General Assembly.

The rise in oil prices added to investor caution ahead of a highly anticipated summit between US President Donald Trump and Chinese President Xi Jinping.

Nasdaq futures fell up to 1% while Dow futures declined by 0.24%. S&P 500 futures dropped 0.46%, with the yield on the 30-year Treasury bond reaching its highest level since 2004, indicating increased borrowing costs due to a prolonged war scenario.

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