Oil dips on demand forecasts, global equities gain

Global equities experienced a rise on Wednesday as mild inflation data suggested the Federal Reserve may keep interest rates unchanged. Oil prices also saw a slight increase, as investors weighed lower demand forecasts against tensions in U.S.-Iran talks. The U.S. saw a small increase in consumer prices, which could reduce the likelihood of an interest rate hike from the Fed.

Gold prices reached their highest level in over two months due to the data's impact on rate hike expectations. U.S. Treasuries gained, lifting yields. Markets were closely watching talks aimed at ending the war with Iran and reopening the Strait of Hormuz.