Market Overview
On 24 September 2026, Reuters reported that Asian energy equities rallied after oil prices rebounded sharply amid renewed supply‑risk concerns linked to Iran. The article, authored by Roushni Nair, was published at 07:36 am local time.
Equity Movements
CNOOC’s Hong Kong‑listed shares advanced 2.1%, while its Shanghai‑listed shares rose 0.7%. Australian producers Santos and Woodside Energy posted gains of 1.4% and 1.0% respectively. Japan’s Eneos added 0.3%, whereas Inpex fell 1.3%, bucking the regional trend.
Commodity Prices
Brent crude settled 3.9% higher at $103.08 per barrel, and West Texas Intermediate (WTI) increased 1.8% to $92.16 per barrel, ending a prior losing streak.
US Market Context
U.S. equity markets provided a weaker backdrop: the S&P 500 declined 0.8%, the Nasdaq slipped 1.1%, and the Dow Jones Industrial Average fell 0.7%. Despite the broader equity weakness, the S&P 500 energy sector rose roughly 1% as crude prices recovered.
Economic and Monetary Indicators
U.S. business activity accelerated to its strongest level in more than five years in September, pushing Treasury yields higher. The 10‑year Treasury yield reached its highest point since 2007, intensifying expectations that the Federal Reserve could raise rates again at its October meeting.
Geopolitical and Infrastructure Developments
The oil price rebound followed Iranian President Masoud Pezeshkian’s pledge that Tehran would not yield to U.S. pressure, a day after former President Donald Trump issued a threat against Iran. Concurrently, Saudi Arabia is working to restore its East‑West pipeline, which was disrupted by drone attacks. The pipeline is critical because it enables Saudi crude to move toward the Red Sea while bypassing the Strait of Hormuz.
Market Implications
The combination of higher crude prices, heightened geopolitical tension, and rising U.S. yields lifted Asian energy stocks, while broader U.S. equity indices remained under pressure.