Public Markets 3 Hours

Last updated: May 19, 2026, 5:30 AM ET

Energy & Commodities

Oil futures retreated from $110 after President Trump held off on a planned Iran attack, while nickel surged following reports of further Indonesian NPI output cuts. The dual moves underscore how Middle East tensions and supply disruptions continue to drive volatile trading in key raw materials. Separately, Singapore secured full-year LNG supplies to replace shipments stranded by the Strait of Hormuz crisis, and the UK energy price cap is forecast to jump 13% this summer, the largest increase since 2023, as war-driven gas costs fuel domestic inflation pressures.

Fixed Income & Currencies

Global bond markets stabilized following recent selloff despite persistent inflation fears, with traders increasingly pricing in a September Federal Reserve rate cut. The ruble strengthened to become the world's best performer this quarter, buoyed by a surge in oil export revenues from elevated crude prices. However, the ongoing bond selloff is threatening vulnerable Asian economies, as central banks in the region face pressure to tighten policy even as the oil shock deepens economic strains.

Equities & IPOs

Danish fish feed producer Bio Mar priced its Copenhagen IPO range, aiming to raise up to $500 million in the city's largest listing since 2018. In contrast, UK housebuilder Crest Nicholson delayed its full-year results as it seeks lender leniency following a profit warning that sent shares plummeting. Dubai-based ride-hailing firm Yango plans a $150 million African expansion, targeting ten new markets this year, while Monzo Bank reported a 44% profit surge as its lending book drove higher interest income.

Geopolitics & Corporate Moves

The OECD warned of a deteriorating global outlook as the Middle East conflict drags on, compounding challenges for G-7 finance chiefs grappling with sticky inflation and higher bond yields. In a major corporate transaction, Arcelor Mittal completed a $667 million stake sale in Vallourec, planning to return the proceeds to shareholders. Meanwhile, a Hong Kong hotel operator hit by Evergrande losses struggles to refinance a $174 million loan due next week, highlighting ongoing distress in parts of the Asian credit market.