The Nasdaq moved higher overnight, rising 0.45%, while the S&P 500 was flat. The Cboe Volatility Index (VIX) fell about 4%. Australian SPI futures rose 18 points, or 0.2%.
Brent crude fell further, trading around US$99 ($139) a barrel. Markets are taking encouragement from the prospect of US-Iran talks, while Saudi Arabia has restarted its East-West oil pipeline, although a return to full capacity could take several weeks.
Gold was trading around US$4,400 an ounce, while silver lifted to US$67 per ounce. Copper continued to push into new highs, while corn and wheat futures retreated.
The Commonwealth Bank of Australia (ASX:CBA) and ANZ Group Holdings (ASX:ANZ) are both forecasting a rate rise from the Reserve Bank of Australia next week, joining the other major banks in expecting a September increase.
Pressure is mounting on the US Government to restrict diesel exports as policymakers seek to ease strain on the domestic economy. US diesel prices are now at record highs, while the country remains a major global diesel exporter. US diesel exports reached a record 1.6 million barrels a day in August.
Source: Charlie Bilello
Write to Callum Newman at Mining.com.au
Main image: Unsplash
