Oil boosted on infrastructure attacks

Chris Beauchamp IG

Attacks on oil infrastructure have cast a shadow over the final day of Q3 trading, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.

European markets struggle on final day of September

It has been a tough month for European stocks, and the selling is continuing right up into the final bell. Beset by higher inflation and a Fed hiking rates, Europe is out of favour once again. Without tech stocks to prop them up the indices have been left without much support, and now have to wait for oil prices to reverse course on a more sustained basis and for the Fed to ease back on the hawkish rhetoric.

Oil prices rally on infrastructure attack

Reports of a Houthi attack on a Saudi oil processing facility have halted the selloff in oil prices, which had gathered pace yesterday on reports of a much-improved supply situation. Until the damage becomes clear the market will take the opportunity to boost prices. Even as we move into Q4, normally positive for stocks, it is clear that geopolitical tensions will continue to dog the outlook.

Author

Chris Beauchamp

Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.

AUD/USD sits at two-month lows near 0.6950 after Australian CPI data

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EUR/USD has fallen to its lowest level since May 2025, but a fresh inflation shock in the Eurozone could give the Euro an unexpected lifeline. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082. The decline reflects a powerful combination of US Dollar strength, geopolitical uncertainty and renewed concerns about Europe's exposure to higher energy prices.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025, but a fresh inflation shock in the Eurozone could give the Euro (EUR) an unexpected lifeline. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082.