Crude Oil Price Surge Dominates Market Sentiment

CANBERA (dpa-AFX) - The unabated jump in crude oil prices amidst the intensifying Middle East conflict dominated sentiment in global markets. The disruption in oil transit through the Strait of Hormuz as well as the naval blockade on Saudi Arabia by Houthi militants have lifted crude oil prices more than 4 percent.

Wall Street Futures are directionless as worries about AI spends compounded the inflation worries triggered by the jump in crude oil prices. Major benchmarks in Europe are trading in the red, ahead of European Central Bank's looming interest rate decision. Earlier in the day, Asian markets had finished trading on a strong positive note.

Dollar Index has edged up. Bond yields hardened across regions as markets factored in fuel-led price pressures impacting monetary policy.

Crude oil prices have jumped around 4 percent as markets fret about oil transit disruptions. Gold has retreated. Cryptocurrencies are witnessing lackluster trading.

Here is a snapshot of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 52,359.50, up 0.26% S&P 500 (US500) at 7,500.50, down 0.12% Germany's DAX at 25,019.22, down 0.62% U.K.'s FTSE 100 at 10,712.92, down 0.04% France's CAC 40 at 8,348.96, down 1.05% Euro Stoxx 50 at 6,263.65, down 0.84% Japan's Nikkei 225 at 66,374.00, up 0.39% Australia's S&P ASX 200 at 8,839.00, up 0.18% China's Shanghai Composite at 3,876.78, up 0.25% Hong Kong's Hang Seng at 25,210.81, up 1.28% South Korea's KOSPI at 7,096.89, up 4.40%

Currencies:

Dollar Index at 101.16, up 0.04% EUR/USD at 1.1407, down 0.04% GBP/USD at 1.3368, down 0.10% USD/JPY at 163.36, up 0.13% AUD/USD at 0.6997, down 0.01% USD/CAD at 1.4084, down 0.02%

Ten-Year Govt Bond Yields:

U.S. at 4.676%, up 0.41% Germany at 3.1887%, up 0.29% France at 3.989%, up 0.20% U.K. at 5.0768%, up 0.80% Japan at 2.770%, up 1.06%

Commodities:

Brent Oil Futures (Sep) at $98.01, up 4.19% Crude Oil WTI Futures (Sep) at $89.89, up 3.52% Gold Futures (Aug) at $4,092.32, down 1.44% Silver Futures (Sep) at $58.96, down 2.23%

Cryptocurrencies:

Bitcoin at $65,650.35, down 0.37% Ethereum at $1,924.20, up 0.05% BNB at $569.25, down 0.25% XRP at $1.13, down 0.11% Solana at $77.49, down 0.01%

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