{
  "id": 707357,
  "title": "Oil prices climb again, as global stocks gain",
  "url": "https://urgent.news/2026/08/12/oil-prices-climb-again-as-global-stocks-gain-707357",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-12T22:09:28.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/08/13/oil-prices-climb-again-as-global-stocks-gain"
  },
  "original_language": "en",
  "account": "U.S. consumer prices rose 0.1% in July, as anticipated, potentially diminishing the likelihood of the Federal Reserve raising interest rates next month. This dampened expectations of a rate increase, as indicated by money markets which suggested a 50% chance of a hike heading into the data release. The relatively modest increase in inflation alleviated some concerns that the Fed was being driven towards a rate hike due to rising energy costs, according to Robert Pavlik, a senior portfolio manager at Dakota Wealth Management.\n\nGlobal equities experienced an uptick on Wednesday, buoyed by mild inflation figures that supported the notion that the Federal Reserve would maintain current interest rates. Meanwhile, oil prices experienced a slight climb as investors weighed the impact of lower demand against the ongoing deadlock in U.S.-Iran negotiations. The United States and Iran's Houthis each claimed responsibility for separate attacks on ships, however, oil prices initially fell as investors took into account the forecasted decrease in demand.\n\nMSCI's global stock index climbed 0.34%, while Wall Street's Dow Jones Industrial Average dropped 0.04% to 53,770.27, the S&P 500 increased 0.26% to 7,748.50, and the Nasdaq Composite rose 0.54% to 26,588.49. The positive performance of AI cloud company CoreWeave and other AI infrastructure providers further supported the bullish sentiment in the tech sector.\n\nIn Europe, the pan-European STOXX 600 index declined by 0.16%, and in Asia, the MSCI's Asia-Pacific index outside Japan gained 0.92%, closing at 1,636.51. Emerging market stocks also experienced a slight uptick, rising by 0.95% to 1,681.25.\n\nThe ongoing talks aimed at ending the Iran conflict and reopening the Strait of Hormuz to shipping traffic continued to influence market sentiment. The U.S. and Iran's Iran-aligned Houthis reported separate ship attacks on Tuesday, while both Iran and the U.S. have intensified their rhetoric in recent days. Iran's top security official expressed a willingness to keep the Strait of Hormuz closed until the U.S. agrees to Iran's demands. Despite this, investors remain relatively calm, with Dorian Carrell, head of multi-asset income at Schroders, stating that a gradual yet messy de-escalation is the base case scenario. They do not foresee the Strait of Hormuz returning to full capacity, which would maintain an energy-driven inflationary force in the markets in the near to medium term.\n\nBrent futures settled at $88.98 a barrel and U.S. crude rose 7 cents to $83.27 in a volatile session. Prices had initially declined as forecasters reduced their global demand predictions. The yield on the benchmark U.S. 10-year note increased by 1.26 basis points to 4.697%, and markets have started to price in a possible early rate hike in Japan, putting pressure on shorter-dated bonds. The yen weakened 0.07% to 159.39 per dollar, and the dollar index rose 0.17% to 99.97, with the euro falling 0.14% to $1.1524. Gold prices climbed 0.92%, reaching $4,407.12 an ounce, while U.S. gold futures increased by 0.6% to $4,467.50.",
  "summary": "Brent futures rise to US$88.98 a barrel in a volatile session as investors balance lower demand against a deadlock in US-Iran talks.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Oil prices climb again, as global stocks gain",
        "url": "https://urgent.news/2026/08/12/oil-prices-climb-again-as-global-stocks-gain",
        "published": "2026-08-12T16:34:01.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Oil prices climb again, as global stocks gain",
        "url": "https://urgent.news/2026/08/12/oil-prices-climb-again-as-global-stocks-gain-712310",
        "published": "2026-08-12T22:09:28.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}