Oil prices rebounded sharply on Thursday after renewed vessel attacks in the Middle East reignited supply disruption fears. Brent crude futures rose 3.97% to $98.38 a barrel, while US West Texas Intermediate gained 2.89% to $90.66. The recovery followed a more than 8% drop in both benchmarks on Wednesday. The UK Maritime Trade Operations agency reported at least five vessel incidents since Sunday, and Saudi Arabia issued alerts about potential threats to its Yanbu oil export hub. Eurasia Group cut its estimate for renewed US strikes on Iran to 60% from 65%, but warned that further escalation could push Brent into a $110–$125 range.
Gold climbed to its highest level since October 20, with spot prices up 1.33% to $4,113.74 an ounce after touching $4,146.63 intraday. The metal has risen more than $250 this week and was supported by a weaker dollar and lower Treasury yields. Markets are pricing a 66% probability of a December Federal Reserve rate hike, according to CME's FedWatch tool, with Friday's US non-farm payrolls report seen as the next key signal.
OpenAI President Greg Brockman indicated a potential IPO in 2027 as the company works to strengthen enterprise sales. OpenAI recorded 70% quarterly growth in annualised revenue in the third quarter, but its latest funding round has secured about $11 billion in commitments versus an original $30 billion target, valuing the company at roughly $1.25 trillion.
Micron shares dropped more than 13% amid a broader selloff in AI-linked semiconductor stocks and reports that it suspended construction of its $4.5 billion Fab 11E memory-chip facility in Taoyuan, Taiwan. The project was expected to produce DRAM and high-bandwidth memory from 2028, but a labour dispute over profit-sharing has delayed it. Taiwan's Ministry of Economic Affairs supports the existing legal agreement and is working to resolve the dispute.
