After President Trump posted on social media that the United States and Iran were engaged in "fructful discussions" and that no attacks on Iran would occur before the midterms, oil prices fell from their intraday highs.

However, the benchmark Brent crude oil price still rose by about 4% on that day, with the potential to record its highest closing price since mid-September. Previously, oil prices had risen by more than 5% due to a new attack on an oil tanker in the Persian Gulf. The reduction in production in the Gulf of Mexico caused by hurricanes is also contributing to the increase in oil prices.

Rising energy prices are weighing on U.S. stocks, which have fallen for the second consecutive day. The Nasdaq Composite Index led the decline, dropping by 1.5%. Chip stocks such as NVIDIA and Intel fell after a report in The Financial Times raised market doubts about the revenue prospects of OpenAI.

The benchmark U.S. Treasury yield declined, falling slightly after Trump posted on Truth Social. Some investors also saw buying bonds at the higher yield levels yesterday as an opportunity; the strong auction of 10-year U.S. Treasuries at that time alleviated some market concerns.