05/11/2026 – Daily Reports
Brent crude fell nearly 9% to below $100 per barrel as the Democrats’ midterm election victory raised expectations of reduced US involvement in the Iran conflict and a potential easing of supply risks. The sharp decline in energy prices supported global bond markets, pushed the US dollar lower and helped European stocks reach a two-month high.
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- Oil: Brent plunged below $100 as Democratic victories in Congress raised hopes of de-escalation in the Middle East and fewer supply disruptions.
- Equities: European stocks rallied, while Asian technology shares weakened on concerns over tighter data-centre regulations and AI infrastructure projects.
- Gold & Silver: Gold jumped 1.9% to $4,135 and silver gained 1.7% to $53.12, supported by a weaker dollar and falling Treasury yields. Friday’s U.S. jobs report is the next major catalyst.
- Copper, Platinum & Palladium: Copper remained relatively stable as tariff concerns eased. Platinum rose 2.1% to $1,528 and palladium gained 2.6% to $1,030, joining the precious-metals recovery.
