Mixed day for global equities as oil prices retreat

Close Top Stories Asia East Asia Singapore World Commentary CNA Explains Sustainability Business Sport Latest News Insider TODAY Big Read Up Close In Pixels Ground Up Voices Adulting Mental Health Matters Watch Live TV News Reports Documentaries & Shows TV Schedule Listen CNA938 Live Podcasts Radio Schedule Special Reports Singapore Parliament Mental Health Interactives Lifestyle Entertainment Women Wellness Living Style & Beauty Dining Travel Luxury Experiences Obsessions People Remarkable Living Sustainability Newsletters CNA Eyewitness Send us a news tip Events & Partnerships Branded Content Business Blueprint Health Matters The Asian Traveller Brand Studio Learning Minds Weather Edition: Singapore Indonesia Asia World Search Trending Topics CNA Explains China artificial intelligence Indonesia Malaysia podcasts Wellness Thailand Japan Follow CNA Follow our news Facebook X Youtube LinkedIn RSS Close Top Stories Asia East Asia Singapore World Commentary CNA Explains Sustainability Business Sport Latest News Insider TODAY Big Read Up Close In Pixels Ground Up Voices Adulting Mental Health Matters Watch Live TV News Reports Documentaries & Shows TV Schedule Listen CNA938 Live Podcasts Radio Schedule Special Reports Singapore Parliament Mental Health Interactives Lifestyle Entertainment Women Wellness Living Style & Beauty Dining Travel Luxury Experiences Obsessions People Remarkable Living Sustainability Newsletters CNA Eyewitness Send us a news tip Events & Partnerships Branded Content Business Blueprint Health Matters The Asian Traveller Brand Studio Learning Minds Weather Edition: Singapore Indonesia Asia World Search Trending Topics CNA Explains China artificial intelligence Indonesia Malaysia podcasts Wellness Thailand Japan Follow CNA Follow our news Facebook X Youtube LinkedIn RSS Recent Searches Trending Topics CNA Explains China artificial intelligence Indonesia Malaysia podcasts Wellness Thailand Japan Advertisement Advertisement Advertisement World Mixed day for global equities as oil prices retreat Brent crude dropped below US$97 a barrel after Houthi rebels said they were not blocking traffic through the strategic Bab al-Mandeb Strait. An exterior view shows the New York Stock Exchange (NYSE) on Jul 24, 2026 in New York. (Photo: AFP/Angela Weiss) 25 Jul 2026 05:16AM Bookmark Bookmark Share WhatsApp Telegram Facebook Twitter Email LinkedIn Set CNA as your preferred source on Google Add CNA as a trusted source to help Google better understand and surface our content in search results.

Read a summary of this article on FAST. Get bite-sized news via a newcards interface. Give it a try.

Click here to return to FAST Tap here to return to FAST FAST NEW YORK: The main international oil contract Brent North Sea fell back under US$100 Friday (Jul 24) after surging past the key milestone the previous day on escalating Middle East strikes, helping US and European stock markets stabilise.Brent dropped about four per cent to under US$97 a barrel, having soared seven per cent Thursday. The key US contract, West Texas Intermediate, declined more than three per cent after having gained more than six per cent on Thursday.

The sizeable jumps had come after Yemen's Houthi rebels struck oil tankers in the Red Sea, potentially opening a new front in the Middle East war.Despite the United States launching fresh strikes Friday on Iran, there was relief on markets that some ships were still able to pass through the Bab al-Mandeb Strait, a crucial passage into the Red Sea. "Ships with Saudi crude are still crossing ...

so for now, it is not a full blockade, reducing a bit the risk of an even tighter oil market," Giovanni Staunovo, a commodities analyst at Swiss bank UBS, told AFP.A Houthi spokesman said Friday that the rebels were not blocking traffic through the strategic strait. Related: Trump vows to punish Iran and Houthis for attacks in Red Sea Commentary: US-Iran war has unleashed forces that will reshape the Gulf On Wall Street, both the Dow and S&P 500 rose, while the Nasdaq retreated again, with semiconductor shares enduring another round of selling.

Angelo Kourkafas of Edward Jones described markets as buffeted by uncertainty over unpredictable geopolitical events and questions about how the Federal Reserve will weigh the latest jump in oil prices. At the same time, "the bar is set high and there is also some skepticism about the sustainability" of this week's lofty corporate earnings, Kourkafas said.David Morrison at Trade Nation said expectations that the US Federal Reserve could hike interest rates at its meeting next week have risen from 13 per cent last week to 30 per cent currently."

Perhaps more seriously, the CME's FedWatch Tool shows a 90 per cent probability of at least one 25-basis point rate hike before year-end," he said.Besides the Fed, next week's schedule includes another heavy calendar of quarterly results featuring tech giants such as Amazon and Apple, as well as major industrial players includin