Saudi Arabia reports Houthi rebel attacks on Jazan refinery and energy facilities
Saudi Arabia reported on Tuesday that fresh attacks by Iran-backed Houthi militants halted operations at several energy facilities in the kingdom’s south. The militants targeted the 400,000-barrel-a-day Jazan refinery and other facilities supplying the domestic market.
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These attacks contributed to a rise in oil prices, with Brent crude trading above $98 a barrel and WTI crude nearing $94 a barrel. Rising energy prices pushed bond yields higher and influenced market sentiment. While oil prices climbed, chip and AI infrastructure stocks saw gains in pre-market trading, driven by optimism surrounding the launch of OpenAI’s latest Astra model. Investors are also preparing for upcoming U.S. inflation data and earnings reports from AI hyperscaler Oracle. In Asian markets, China’s export growth picked up in August, supported by demand for high-tech and AI-related products. Meanwhile, Japan’s economy expanded at a slightly quicker pace than initially estimated in the second quarter, with real wages showing the largest increase since May 2021.
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Stock Market Today: Dow tumbles 1%, S&P 500 and Nasdaq drop as Brent crude edges toward $100 a barrel and pharma stocks stumble
marketwatch.com
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Stock Index Futures Mixed as Oil Nears $100, U.S. Inflation Data Awaited
barchart.com