Ammonia cargo sails through Strait of Hormuz for first time since July: CAS

Oil prices experienced an increase on Wednesday following reports of attacks on ships in the Strait of Hormuz. Iran allegedly targeted vessels using innovative methods to disrupt shipping activities. Meanwhile, the ongoing conflict between Houthis and Saudi Arabia added to the risk of crude supplies being interrupted. Saudi Arabia informed that an attack on an Aramco facility in the east of the kingdom caused a limited fire, resulting in debris from intercepted Houthi missiles causing injuries to four individuals in the capital, Riyadh.

International benchmark Brent crude futures experienced a rise of nearly 1%, lifting above $107 a barrel in Europe during early trading on Wednesday, while US West Texas Intermediate crude futures also gained 0.5% to $94.64 a barrel. European gas prices rose to a four-year high due to supply concerns, with European gas futures trading slightly below their previous peak of €87.44.

In equity trading, European markets opened higher, with the Euro Stoxx 50 increasing by 0.3% and the broader pan-European Stoxx 600 gaining 0.2%. UK's FTSE 100, France's CAC 40, Germany's DAX, Italy's FTSE MIB, Spain's IBEX 35, and the Netherlands AEX all saw gains between 0.1% and 0.6%. France's CAC 40 and Spain's IBEX 35 led the gains, rising by 0.5% and 0.6%, respectively.

Asian shares were mixed, with chipmakers and artificial intelligence stocks continuing to attract investor interest. Japan's Nikkei 225 rose 0.5%, while Hong Kong's Hang Seng also increased. The Shanghai Composite, however, fell by 0.3%. On the other hand, Australia's S&P/ASX 200 declined by 0.6%. South Korea's Kospi also saw a decline of 1%.

Wall Street indices concluded near their record highs from the previous trading session. The S&P 500 edged down by less than 0.1%, slightly distancing itself from its all-time high reached last week. The Dow Jones Industrial Average fell by 0.3%, while the Nasdaq Composite dropped 0.2%. Goldman Sachs, on the other hand, saw a 4% increase at the start of trading after reporting a profit for the third quarter, surpassing analysts' expectations.

However, its stock later erased those gains, fluctuating between gains and losses before ending 0.2% lower. Analysts forecast significant earnings growth of nearly 30% for companies in the S&P 500 for the third quarter, despite concerns about inflation, bond market pressure, and conflicts in the Middle East. There are also growing worries that chip stocks may have risen excessively due to enthusiasm for artificial intelligence.

China's memory chipmaker CXMT, which is making significant advances that could challenge industry giants, rose by around 1.0% in early Wednesday trading in Asia. South Korean companies, Samsung Electronics and SK Hynix, also saw increases, but SK Hynix experienced a decline. In the bond market, US Treasury yields eased on Tuesday after oil prices fell, with the yield on the 10-year Treasury declining to 5.21% from 5.24%.

US bond market trading was halted on Monday for a holiday. In currency trading, the US dollar was at ¥158.30, while the euro was at $1.1209.