Finance

Oil prices have climbed once again, with Brent crude futures trading near $102 a barrel due to a resurgence of regional volatility. Fresh attacks by Yemen's Houthi rebels on Saudi Arabia and recent disruptions targeting vessels in the Strait of Hormuz have reignited energy supply concerns. These escalating tensions are compounding fears of a prolonged energy shock that could impact broader global economic growth.

Financial markets are closely focused on the release of the Federal Open Market Committee's September meeting minutes. Wall Street is seeking deeper clarity regarding the central bank's unanimous decision to raise interest rates last month and whether policymakers still favor another increase later this year. Current futures pricing indicates only a slim 20% probability of an additional rate hike during the October cycle.

The domestic real estate sector is facing increased pressure as the average rate on a 30-year fixed mortgage advanced to 7.49%. Concurrently, the Mortgage Market Index recorded a notable decline to 204.7, reflecting a contraction in volume. This upward trajectory in borrowing costs mirrors the relentless ascent observed across fixed-income bond yields.