Oil Surge & US Fiscal Deterioration Rattle Markets
Brent crude hit a 5-month high above $110 on Middle East tensions while the US deficit widened to a record $1.99T for FY2026, with net interest now exceeding $1 trillion. The Nasdaq posted its worst week since April 2025.
What we know
Brent crude surged above $110 — a 5-month high — driven by ongoing Middle East tensions per the FT. WTI settled at $101.41, its highest since May. Simultaneously, the US deficit hit $1.99T for FY2026, up 12% YoY with net interest crossing $1T for the first time, as reported by an account on X. The Nasdaq dropped 2%+ on AI/chip selloff, its worst week since April 2025. Another account on X sees semiconductors at a historic oversold bottom (RSI 31) and calls the dip a buy. Another account on X watches the BTC weekly close above $81–82k as a critical signal.
How the story developed
Brent crude hit a 5-month high above $110 on Middle East tensions while the US deficit widened to a record $1.99T for FY2026, with net interest now exceeding $1 trillion. The Nasdaq posted its worst week since April 2025.
BOJ Governor Ueda reaffirmed the rate hike trajectory, warning he cannot tolerate inflation above 2% and is watching the weak yen and Middle East developments carefully.
Bank of England Governor Bailey flagged ongoing frustration with above-target UK inflation, subdued second-round effects, and cited Middle East geopolitics as the primary driver of UK gilt yields.
Sources
“Brent hits 5-month high above $110 on continued tension in Middle East”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.