Public Markets 8 Hours

Last updated: May 28, 2026, 2:31 AM ET

Energy & Commodities

Oil prices climbed 3.2% after the U.S. shot down four Iranian attack drones, casting doubt on prospects for a peace deal and renewing concerns about Middle East supply disruptions. The escalating conflict canceled LPG cargoes as freight rates soared to three-year highs, with some Asian buyers canceling shipments typically bound for the region. Global oil investments are set to drop for the third consecutive year as the supply shock shifts priorities to new trade routes and alternative energy sources. Meanwhile, Treasuries resumed their decline for the first session in six as renewed clashes in the Persian Gulf spurred gains in oil prices and fueled inflation concerns. Industrial metals extended losses with copper declining 1.5% as the strikes dampened optimism for a deal to end the war with Iran.

China Economic Developments

China's crop belt faces increasing flood risk as heavy rains arrive earlier and last longer this year, threatening agricultural output and disaster management capabilities. Pork prices plunged to a 16-year low, reflecting anemic consumer spending and an oversupply of hogs, while Chinese crude oil imports are set to drop to pandemic-era levels as the Iran war reveals the extent of demand weakness. China's farming giant Syngenta denied 'nefarious' intentions in the U.S., calling for agriculture to be excluded from tensions between the two superpowers. The country sold $885 million of green sovereign bonds in Hong Kong, returning to international ESG debt markets after a year since its debut in London. Chinese factories are moving abroad to avoid higher Western tariffs and weak domestic demand, creating new competition in global markets.

Market Movements & Volatility

A small Swedish semiconductor firm surged 1,700% this year, becoming one of the country's most-shorted stocks as retail traders piled in while institutional investors bet against its valuation. South Korea's leveraged ETFs may