11.10. Oil jump amid global energy crisis, dollar close to 3-year high

News for today, October 11th:

Asian equities rallied Monday on gains in China, which also helped US stock futures overcome early losses. Rising Treasury yields pushed the dollar to its highest level in nearly three years against the Japanese yen on Monday, as investors remain confident that the US Federal Reserve will announce a cut in large-scale bond purchases next month, despite less promising US employment data released last Friday.

Brent crude continued to climb and touched the benchmark last reached in late 2018, with gains across the energy complex fueling inflation concerns. Increasing oil prices maintain multi-week growth rates, as the energy crisis faced by large economies does not give hopes for weakening amid limited supply from large producers.

OPEC will release its monthly oil report later this week. For now, Brent crude rose $ 1.20, or 1.5%, to $ 83.59 a barrel by 04:14 GMT after rising nearly 4% last week. US oil rose $ 1.51, or 1.9%, to $ 80.86 a barrel, the highest level since late 2014. On Friday, the price of oil in the US rose 4.6%. As concerns cryptocurrency, bitcoin surged 3.5% to a five-month high of $ 56,576, continuing its gains over the weekend.

The price of Brent crude is $ 83,61 per barrel, WTI — $ 80,81. EUR/USD is at 1.1577, GBP/USD —1.3659, gold is at $ 1,753.93 per ounce.