Crude oil futures settled today’s session $5.24 higher (+6.0%) at $92.09 per barrel.
Treasury yields remain near their worst levels of the session, with the 10-year note yield up five basis points to 4.70%.
Dow -597.29 at 51621.29, Nasdaq -596.59 at 25115.32, S&P -103.20 at 7395.76
Gold futures settled $101.70 lower (-2.5%) at $4,050.20/oz, as a surge in oil prices stoked inflation concerns, lifting Treasury yields and the U.S. dollar. Investors also turned cautious ahead of next week’s Federal Reserve meeting, reducing demand for the non-yielding precious metal.
U.S. Dollar Index is up just shy of +0.4% to $101.48.