Commodities
US-Iran Tensions Ease: Crude Oil Futures Prices Plummet
The Crude Oil Futures (NOV6) market saw a decline for the third consecutive day, with prices falling below $100. This came as concerns over tensions between the United States and Iran eased.
According to media outlet Reuters, South Korea secured more than 70% of its crude oil needs for November and over 90% for September and October. Orlen, a major Polish refiner, is seeking new suppliers due to Middle East tensions, according to MT News wires.
The USD/JPY exchange rate saw a rise on the Tokyo market's 18th session, supported by a higher USD/JPY rate. However, dollar selling initially pushed the pair down to around 155.30 yen per dollar before it rebounded.