30 a..m., a level about 0.5 % above the previous day’s close.
Jochen Stanzl, chief market analyst at Consorsbank, noted that oil has been hovering in the upper fifth of its weekly range while the DAX sits in the lower fifth, a pattern that reflects growing investor unease with the current market environment. He pointed out that the United States allowing India to purchase Russian oil for 30 days illustrates how desperately the world is looking for ways to avert a looming supply shortfall. As Europe remains a net importer of oil, investors are likely to shy away from European stocks as long as prices stay high or continue to rise.
Since the launch of the US operation “Epic Fury” the rotation away from U.S. equities has abruptly halted. The S&P 500 is only down 0.5 % this week, while the Nasdaq 100 has risen 0.7 %. Stanzl argues that investors are less interested in removing U.S. stocks because the United States is now a net oil exporter, rather than because they are reassessing a long‑term overweight in the U.S. market.
Gold has also been under scrutiny amid months of dramatic price swings. The metal’s trading in the lower third of its weekly range raises doubts about whether it remains a safe haven. Central‑bank demand has historically driven gold prices, with Poland’s central bank taking a leading role. The Polish government now aims to tap its central bank’s gold holdings to sidestep an EU loan for urgent defense spending. Legal hurdles exist, as governments cannot simply liquidate central‑bank assets to fund spending, but Stanzl cautions that Poland’s moves-having been the world’s largest official gold buyer in recent years-could stir volatility in the gold market.
The euro was a touch weaker on Friday morning: one euro equaled 1.1607 US dollars, and one US dollar was worth 0.8615 euros.
Gold traded at 5.099 USD per troy ounce, up 0.3 % from the previous close, equating to 141.23 euros per gram.
Brent crude oil rose to 85.80 USD per barrel at approximately 9 a.m. German time, up 39 cents or 0.5 % from the prior day’s close.
