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Wells Fargo Raises Oil Price Targets Citing Ongoing Supply Risks

Wells Fargo Investment Institute raised its crude oil price targets for 2027 on Tuesday, citing ongoing supply disruptions and inventory rebuilding needs.

  • Wells Fargo raises crude oil price targets for 2027 to $75-$85 per barrel
  • Supply disruptions expected to lessen in 2027, but premium remains
  • Factors like geopolitical risks and inflation keep prices high through 2027

Asia stocks gain ahead of U.S. PCE inflation; regional data in focus

Asian stocks were mostly higher on Wednesday as a slight retreat in global bond yields and softer oil prices provided some support to risk assets, while investors remained cautious ahead of key U.S.

  • Asian stocks gained ahead of U.S. PCE inflation data release
  • Nikkei 225 surged 2.2% on chip-related stocks and SoftBank rise
  • U.S. 30-year Treasury yields eased to 5.55%, supporting market rally

Iron Ore Rises on Strong China Data

Iron ore futures climbed toward CNY 710 per ton, recovering from eight-week lows after data showed China’s manufacturing sector returned to growth in September, improving the demand outlook in the…

  • Iron ore futures rise to CNY 710 per ton, breaking eight-week slump
  • China's manufacturing sector regains growth in September
  • Investors anticipate lower trading volumes during National Day holiday

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