Oil Prices Jump Over 3%, Testing $91 as Stocks Brace for Earnings
Brent crude surged more than 3% to test $91 per barrel, the highest in months, as geopolitical tensions and earnings season dominate the week ahead.
Oil prices rallied at the start of the week, with Brent crude climbing over 3% and testing the $91 per barrel level — the highest since an unspecified period. The move comes amid renewed geopolitical risk after reports that US forces initiated operations, and as markets look ahead to a busy earnings season.
While former President Donald Trump was attending a World Cup-related event in New Jersey, the focus shifted to supply-side concerns that pushed crude higher. Stock markets face a test this week as corporate earnings reports begin to roll in, potentially setting the tone for risk assets alongside the oil rally.
Source: FXStreet Forex News