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On November 2, oil fell by about 4% in a session. The reason is not inventories or production, but headlines: media report hopes for a peace deal on Iran.
Intel shares closed Friday, October 30 at $65.76 versus $92.07 the day before. Over October the stock slid from $120.23 and lost 45.3% - its worst month in more than four decades.
Intel shares (the largest American processor manufacturer) fell 23.56% to $70.39 in Friday's overnight trading - that's minus $21.69 from Thursday's close of $92.07. The market punished the company not for the past quarter, but for its guidance for the coming ones.
The December Brent futures contract added $1.20 (+1.04%) on Friday and reached $116.08 per barrel after reports of tankers being blown up near the Strait of Hormuz. In October, oil rose by almost 11% - the fourth consecutive month of gains.
Brent added $1.50 (1.32%) and returned to $115.59 per barrel, WTI rose $1.47 to $101.37. The trigger - a statement by Yemeni Houthis that they hit Ras Tanura, the kingdom's largest oil refinery at 550,000 barrels per day, with a ballistic missile. Riyadh has not confirmed the strike.
On Thursday Brent rose 2.6% to $111.66 per barrel - a five-month high, and in the evening Moscow time quotes went above $113. The rally was driven by Houthi attacks on Saudi infrastructure and expectations of a new military escalation around Iran.
Gold slipped to $4,135 per ounce - the third declining session in a row. Two factors are weighing: the yield on 10-year US Treasuries has returned above 5.1%, and oil has risen almost 15% in two weeks.
On Tuesday, October 6, XAU/USD declined to $4,100, the lowest level in about two months. Gold has lost about 12% from its recent peak near $4,696, and the main pressure factor remains the strong dollar and high US bond yields.
