International markets update:
Global markets face persistent jitters as crude oil flows return to pre-war levels, yet pricing remains a significant concern, particularly with record high diesel prices. Futures indicate a cautious start to October trading amidst ongoing economic uncertainties.
- Crude oil flows through the Strait of Hormuz have fully returned to pre-war levels, reaching a seven-day average of 13.5 million barrels per day. Despite this, refined product supplies remain constrained, pushing diesel prices to record highs.
- U.S. President Trump is actively considering a ban on diesel exports to mitigate record-high domestic prices, a move that could impact global energy markets.
- Both Brent and WTI crude futures opened lower on Thursday, indicating persistent price sensitivity in the energy market despite increased supply flows.
- Bond markets remain on edge, with Treasury yields elevated despite a slightly softer U.S. PCE inflation reading of 3.4%, as Federal Reserve officials maintain a hawkish stance on inflation.
- Google introduced Gemini 4 Argon, its most advanced AI model to date, showcasing significant advancements in coding and cybersecurity capabilities.
- Meta Platforms saw its stock surge by almost 30% in September, marking its best month since 2022, following strong investor reception to its new Muse personal AI agent.
Stock Market News summarised for the Wall Street Investors Club community.