Oil rises above $106 as Iran talks and Fed rate bets shift markets

zonebourse.com (French) —

Oil prices rose to around $106 per barrel Monday amid renewed Middle East uncertainty, as markets reacted to conflicting statements from President Trump about Iranian negotiations. US 10-year Treasury yields also climbed back above 5.2%. Trump first rejected Iran's latest proposals over the weekend, then said he expected talks to resume this week. Analysts suggest Tehran may benefit from ongoing US political turmoil ahead of midterm elections. The Brent December contract trades $7 above November, a rare "backwardation" indicating supply concerns. Federal Reserve rate hike odds for October jumped to 68% from 18% a month ago. The Trump-Xi summit yielded only minor tariff reductions. Asian markets fell 0.7%, while European futures gained 0.3%. Key US data this week includes PCE inflation and September jobs figures.


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