Oil prices rise, US stocks fall as Treasury yields rise
- Last updated: October 8, 2026 | 10:17
Oil prices rose in early Asian trading on Thursday, with Brent crude futures rising US$1.33, or 1.33 percent, to US$101.53 per barrel (pb).
US West Texas Intermediate (WTI) crude futures gained $1.11, or 1.26 percent, to $89.39 pb.
Prices settled lower on Wednesday after the International Energy Agency (IEA) agreed to accelerate oil releases from strategic reserves and prioritise diesel supplies.
Meanwhile, Wall Street’s three main indices closed lower on Wednesday as long-term US Treasury yields resumed their rise, renewing concerns over inflation and mounting debt.
The declines came a day after the S&P 500 and Nasdaq Composite posted record closing highs.
The S&P 500 fell 17.78 points, or 0.23 per cent, to 7,801.15, while the Nasdaq Composite lost 66.50 points, or 0.24 per cent, to 27,533.39.
The Dow Jones Industrial Average dropped 355.91 points, or 0.69 per cent, to 51,165.37.
WAM