September 9, 2026

The escalation between Iran and the United States intensified yesterday, and Brent crude is once again trading above $100 per barrel

International

The conflict between Iran and the United States, which has been intensifying since last week, escalated yesterday in the Persian Gulf with new attacks between the two nations. This tension has reignited fears of a disruption to the flow of oil through the region, given Iran's role as a major producer and its proximity to the Strait of Hormuz—one of the world's most heavily used maritime routes for crude oil transport. Against this backdrop, Brent crude is trading above $100 per barrel again this morning.

Major US stock indices closed lower yesterday. The S&P 500 fell 0.6% (+12.1% year-to-date), the Nasdaq dropped 0.3% (+13.7% YTD), and the Dow Jones took the hardest hit, declining 1.2% (+9.8% YTD).

Regarding bond yields, US Treasury rates rose across the curve. The 1-year bond yield moved from 4.11% to 4.13%, the 3-year yield rose from 4.44% to 4.46%, and the 10-year yield increased from 4.78% to 4.79%.

Finally, in the commodities market, gold fell 1.1% to close at $4,356.0 per ounce. Soybeans rose 0.7% to $478.5 per tonne. Among energy commodities, WTI crude gained 1.7% to reach $93.0 per barrel, while Brent crude rose 0.9% to $97.9 per barrel.

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