Oil Slips as Markets Await U.S. Inflation Data
Fed: Markets see an 81% probability of rates remaining unchanged in October. Wednesday’s U.S. CPI report is the key event this week.
Equities: Asian markets are mixed, while U.S. futures edge higher. Tech earnings and AI investment remain in focus.
Oil: Brent is around $103.4 and WTI near $90.3. Expectations of increased Russian energy supply are weighing on crude prices.
Gold: Gold is near $4,190, supported by lower oil prices and a softer dollar.

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Global Market News Summary — 12 October 2026
- Wall Street entered the new week after the Dow, S&P 500 and Nasdaq all finished higher on Friday, 9 October. US equity markets are open Monday while the bond market is closed for Columbus Day. JPMorgan, Goldman Sachs, Wells Fargo and Citi report on Tuesday, opening the Q3 earnings season. September CPI, due Wednesday, is forecast at 3.6% year-on-year and 0.6% month-on-month, and TSMC reports full Q3 results on Thursday.
- The DAX closed about 1.1% higher on Friday, reversing a two-day decline to a two-month low, after President Trump ruled out a US attack on Iran before the November midterms. SAP led gains with a 3.8% rise, while Deutsche Telekom fell nearly 8% on competition concerns for T-Mobile US following SpaceX’s spectrum acquisition; the index lost about 0.5% on the week.
- Japanese markets are closed today for Sports Day. The Nikkei 225 closed 0.07% lower on Friday, with Nidec, Fast Retailing and Murata Manufacturing leading declines. The index recovered most of its earlier losses after reports that OpenAI expects annualized revenue to reach at least $70 billion by year-end.
- Gold climbed above $4,217 an ounce on Monday, extending gains for a third session as lower oil prices eased inflation concerns. St. Louis Fed President Musalem said further tightening may be needed; CME FedWatch shows under 20% odds of an October hike but over 80% for at least one 25 bp increase by December.
- Brent futures December fell toward $102,34 per barrel on Monday after Trump announced an agreement for Russia to supply diesel, partially easing Moscow’s export ban. OFAC issued a temporary general license covering roughly 22.5 million barrels. Houthi militants again targeted Riyadh’s King Khalid International Airport on Sunday, a day after a strike killed 12 people, and a drone hit a tanker near Sohar off Oman.



