Commodity markets showed mixed movements on October 14, 2026, with oil prices climbing amid escalating tensions in the Middle East. The renewed attacks raised concerns about the stability of energy flows through the Persian Gulf, pushing Brent crude above $106 a barrel after a slight dip the previous day. Meanwhile, West Texas Intermediate (WTI) also advanced, nearing $95. The threat of Iranian strikes on tankers in the Strait of Hormuz added to the uncertainty, despite the U.S. facilitating the transport of over 19 million barrels of crude through the critical waterway.
Gold, on the other hand, held onto its losses from the past two sessions, trading near $4,155 an ounce. A Federal Reserve official's suggestion of a potential rate hike before the end of the year weighed on the precious metal, though further tightening in 2027 was deemed unlikely. Other precious metals also faced declines, with silver dropping 0.2% to $59.04, platinum falling 0.4%, and palladium remaining nearly unchanged.
The U.S. dollar weakened slightly, retreating from its 18-month high as investors reassessed the recent rally in AI-driven assets. The dollar index dipped 0.02% to 102.17, following a more significant drop the day before. The euro maintained its gains, though budget concerns in France kept regional bond yields elevated, adding to market jitters.