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Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
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Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
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Oil prices fell on Friday, ending a two-day rally as traders weighed reports that the United States and Iran were discussing a phased agreement that could eventually reopen the Strait of Hormuz and ease disruptions to global crude supplies.
Brent crude futures for November delivery dropped 1.8% to $104.67 a barrel by 15:15 ET, while November West Texas Intermediate crude futures declined 2.2% to $92.51. Brent was still on track for a modest weekly gain, while WTI was headed for a 4.1% weekly loss.
Reuters reported that U.S. and Iranian negotiators in New York had discussed a potential path toward ending the conflict. Under the reported framework, Tehran could reopen the Strait of Hormuz while Washington eases its economic blockade.
Iran has separately outlined conditions for returning to negotiations, including an end to U.S. military actions and the naval blockade, the release of frozen Iranian assets and an agreement on safe shipping routes.
Despite the diplomatic activity surrounding the United Nations General Assembly, no formal breakthrough has been announced. U.S. Secretary of State Marco Rubio described recent contacts as a continuation of earlier discussions rather than a major diplomatic advance.
Trade Nation senior market analyst David Morrison said oil prices could fall significantly if an agreement materializes, although substantial obstacles remain.
Supply risks also remained elevated as Yemen’s Iran-backed Houthis intensified attacks on Saudi Arabia. Riyadh said it intercepted six ballistic missiles targeting areas including Taif and the Yanbu region. The attacks renewed concerns about Saudi oil infrastructure after earlier damage to the East-West Pipeline disrupted shipments to the Red Sea export hub.
Saudi Arabia has restarted the pipeline, but tanker loadings from Yanbu have yet to fully recover.
Meanwhile, U.S. diesel markets remained under scrutiny after prices climbed to record levels. The Trump administration is reportedly considering measures to boost domestic supplies, including possible voluntary restrictions on diesel exports, as officials seek alternatives to a broader export ban.
